Woot, the US retailer which offers a fantastic deal on one product at a time, has been bought by online commerce giant Amazon in a deal rumoured to be worth $110m.

Like Amazon's other major recent purchase, Zappos, Woot will continue to operate how it has been up to now, but will benefit from its new parent company's bulk-buying power and operating efficiencies.

The company is best known for having stunning deals on a single product a day, which creates the virality and stickiness required to succeed on the global e-commerce scene.

Terms of the deal weren't disclosed, but TechCrunch has heard that it was an all-cash transaction valued at $110m.

[TechCrunch]