INT Corporation: INT Corporation acquiring luxury digital platform AHAlife Holdings

INT Corporation (ASX:INT) has executed a conditional merger agreement to acquire New York-based luxury digital marketplace platform AHAlife Holdings Inc.AHAlife connects consumers with over 2,000 curated luxury designers and artisans across more than 45 countries.Since its foundation, it has attracted a high quality investment group, who have committed over US$23 million of development funding up to the announcement of this transaction.Existing investors, current board and advisory members of AHAlife include the former CEO of Saks Fifth Avenue, current CEO's of Rakuten, Net-a-Porter, William Morris Endeavour and VIP Shop, Former Chairman of LVMH North America and US based venture capital firms DCM and FirstMark Capital.Funds invested to date have been applied towards building an audience of brands and consumers centred on a proprietary enterprise class technology platform that is highly scalable and capable of supporting rapid revenue expansion.It uses a drop ship model and therefore doesn't carry inventory risk.AHAlife is valued at A$37 million and will be acquired via an issue of 2,114,285,715 INT shares and options (pre-Consolidation).A capital raising of at least $15 million will be undertaken concurrently with the transaction to fund AHAlife's sales, marketing and development activities, to extinguish debt and pay transaction expenses and for general working capital.In October 2013, Bain & Company estimated the online luxury market to be worth A$14 billion, which is growing faster than the total global luxury lifestyle market estimated to be A$310 billion.Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.