Groupon Inc. agreed to buy fellow daily-deals provider LivingSocial, uniting two top names in a sector that has experienced some turmoil.

Groupon didn't disclose the deal value but said the consideration isn't material.

Amazon.com invested at least $200 million in LivingSocial, and said a year ago that it would close down its own coupon unit Local. Amazon once valued LivingSocial at more than $1 billion, but that slipped to $242 million at the end of 2014.

In addition to the deal, Groupon also reported a third-quarter loss of $38 million, or 7 cents a share, compared with a year-ago loss of $27.6 million, or 4 cents a share.

Revenue rose 1% to $720.5 million, and the company raised full-year revenue guidance to the range of $3.075 billion to $3.15 billion. In July, it projected $3 billion to $3.1 billion.

Write to Josh Beckerman at josh.beckerman@wsj.com

 

(END) Dow Jones Newswires

October 26, 2016 17:05 ET (21:05 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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