Online discounter Amazon.com (AMZN) inked an $807 million deal Wednesday to acquire Zappos.com, an online apparel and footwear retailer. 

Amazon said it will acquire all of the outstanding shares and assume all outstanding options and warrants of Zappos in exchange for 10 million common shares of Amazon. The deal is expected to close in the fall.

Shares of Amazon ticked lower in after-hours trading, sinking to $88.10 after closing at $88.79 during regular trading Wednesday.

"Zappos is a customer focused company," Amazon CEO Jeff Bezos said in a statement. "We see great opportunities for both companies to learn from each other and create even better experiences for our customers."

Amazon plans to keep the Zappos management team in place to allow the company to operate independently in Las Vegas. 

"We are joining forces with Amazon because there is a huge opportunity to utilize each other's strengths and move even faster towards our vision of delivering happiness to customers, employees and vendors," Zappos CEO Tony Hsieh said in a statement. "We will continue to build the Zappos brand and culture in our own unique way, and we believe Amazon is the best partner to help us do this over the long term."

The deal comes a day before Amazon is set to report its quarterly results. The online giant is expected to post a quarterly profit of 31 cents per share, according to analysts polled by Thomson Reuters.