Azrieli Buys Buy2 Networks For $16.5M

May 3, 2016 | Israel’s Azrieli Group Ltd. is entering the e-commerce field by acquiring the business of the Buy2 Networks Ltd.  e-commerce website for $16.5 million (62 million NIS). According to Azrieli, it is acquiring Buy2 Networks subsidiary Netex New Media as part of its strategy aimed at building a new digital growth engine in Israel. Buy2 Networks has 60 employees, and operates a broad range of e-commerce websites and services, such as home and garden products, electrical and consumer electronics products, fashion and cosmetics, pharmaceutical products, products for parents and children, sports and camping, etc. The company’s e-commerce platform contains over 20,000 different items available for online purchase. Azrieli Group, one of Israel`s prominent investments companies,  is comprised of Israel’s leading nationwide chain of income-producing properties (shopping malls and offices).