CHICAGO — Groupon Inc. said Wednesday it has agreed to buy LivingSocial Inc., its main competitor in the daily-deals industry.
Chicago-based Groupon said in its third-quarter earnings report that it entered into the agreement with Washington, D.C.-based LivingSocial on Monday.
The deal is expected to close next month.
Groupon (NASDAQ: GRPN) did not disclose the value of the deal but said, “The acquisition consideration is not material.”
Also on Wednesday, Groupon reported a loss of $38…