AO World, a prominent UK-based online electrical retailer, announced on Thursday that it has completed the acquisition of the camera retailer Jessops. The business was previously owned by Peter Jones, a well-known entrepreneur and star of the television show 'Dragons’ Den.'

The acquisition involves the entire Jessops business, including its seven remaining brick-and-mortar locations across the United Kingdom. According to AO, the transaction was funded entirely through the company’s existing cash reserves, meaning no external financing or debt was required to complete the purchase.

This move is part of a broader strategic shift for AO World. While the company has historically built its reputation on selling large appliances—often referred to as 'white goods'—as well as mobile phones and televisions, the purchase of Jessops signals an intent to diversify into specialized consumer electronics. By integrating Jessops, AO aims to broaden its footprint in the competitive UK electricals market, though the company has not yet detailed how it plans to integrate the remaining physical storefronts into its primarily digital-first business model.