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It’s been announced that Amazon have now completed the aquisition of Zappos. They had decided to acquire zappos back in July. Thanks to the stock market the acquisition which was reported at $928 million over the past few months has been finalised at $1.2 billion thanks to the stock market. Shares closed Friday at $117.4 a share.

Zappos CEO Tony Hsieh writes in a public letter:

We’ve been spending the past few months obtaining all the proper government approvals, and I’m happy to say that we officially closed the deal at the split second between Halloween (10/31/09) and All Saints’ Day (11/1/09). From a practical point of view, we’ve switched out our previous board of directors with a new management committee that is composed of people from Zappos as well as Amazon.

Our investors and other shareholders exchanged their Zappos.com shares for approximately 10 million Amazon.com shares. Given the closing price on Friday, 10/30/09, for Amazon stock, those shares were valued at approximately $1.2 billion at the time of close.

Zappos will continue to run as subsidiary with headquarters in Las Vegas, NV.

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