This morning Amazon announced that it had closed the Zappos deal that had been rumored since July. Originally the online shoe retailer was valued at $928 million, but the final sale price was a whopping $1.2 billion. Yeah. With a B.

Zappos was happy to announce the news as well, stating that investors were compensated for Zappos shares with Amazon shares totaling the sale price. Zappos CEO Tony Hsieh also pointed out that things will pretty much stay the same with regard to management, albeit with a few new faces around.

We’ve been spending the past few months obtaining all the proper government approvals, and I’m happy to say that we officially closed the deal at the split second between Halloween (10/31/09) and All Saints’ Day (11/1/09). From a practical point of view, we’ve switched out our previous board of directors with a new management committee that is composed of people from Zappos as well as Amazon.

All in all, a pretty good weekend to be in either camp here. For Zappos, you just got $272 million richer. For Amazon, you just picked up a company that sells a billion shoes a year. Yeah. With a B.