Etsy Purchases Reverb For $275M

Etsy, Inc. (NASDAQ: ETSY) will acquire online used and vintage musical instruments platform Reverb Holdings, Inc. for $275 million in cash.

Reverb will operate as a standalone business when the deal closes. The company was founded in Chicago in 2013 on the principle that buying musical instruments should be easy and affordable.

Etsy shares are trading up 0.61% at $66.25 in Monday’s pre-market session. The stock has a 52-week high of $73.34 and a 52-week low of $38.92 cents.

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