ThreeSixty to Acquire Sharper Image From Iconix

Private equity-backed consumer products company ThreeSixty Group will pay $100 million for the quirky gift retailer in its second sale outside of Chapter 11. ThreeSixty Group on Friday said it had agreed to purchase the Sharper Image brand from Iconix Brand Group in the hopes that it can revamp the struggling gadget maker. The Irvine, Calif., consumer products company will pay $100 million in cash for the rights to the brand and related intellectual property assets of the specialty gifts retailer.