• by Laurie Sullivan  @lauriesullivan, May 24, 2012

Bazaarvoice said Thursday it has entered into an agreement to acquire ratings and reviews platform PowerReviews. Founded in 2006, the company built a client base of more than 1,100 retailers, primarily small and mid-size in North American, as well as Gap, REI, Staples and Toys 'R' Us.

At the closing share price on May 23, the value of the transaction is approximately $151.9 million, including the assumption of vested and unvested options, but excluding the potential cash proceeds that may come from the exercise of these options.

Bazaarvoice will finance the transaction with cash on hand, and is expected to close during the first fiscal quarter ending July 31, 2012, subject to customary closing conditions.