They were purchased by Hudson&#x27;s Bay Company, which was founded in 1670. It almost seems anachronistic to see a historical institution from the 17th century buy up a hyped tech company.<p>TechCrunch&#x27;s front page headline for this is &quot;Gilt Gets Acquired For $250M by Saks Fifth,&quot; which wouldn&#x27;t be as interesting and isn&#x27;t even accurate since Saks is just another HBC subsidiary. This is like if the East India Company bought Groupon.