has agreed to acquire Quidsi, operator of online retailers and, for about $540 million, according to reports.

The deal could be officially announced today, according to articles in Fortune Magazine and The Wall Street Journal, both based on anonymous sources.

The purchase price is about $200 million above Quidsi's current valuation, Fortune reported.

Quidsi's management will stay on and join, according to the Journal. sells a wide variety of baby products, including toys and cribs, while focuses on household items and personal care products.

Quidsi launched in 2005, while made its debut in July of this year. Quidsi's strategy has been to offer a very wide variety of products, coupled with low cost and very fast delivery and sharp customer service. bought online shoe seller last year for $1.1 billion.

Neither nor Quidsi responded to requests for comment.