Classic typo domain.
Typo domains used to be worth a lot of money simply because of the typo traffic that they would receive. Now thanks to search engines like Google, typos get corrected by the search engine and as a result typo domains no longer receive the same level of traffic they used to.
Obviously someone thought this name was still valuable. I doubt it gets a lot of traffic now and honestly you run the risk of a trademark infringement with this kind of name.
RE: Weekly Top 20 Domain Name Sales - Week 38