eBay acquires GSI Commerce

Online auction and shopping website eBay Inc today said it has agreed to acquire e-commerce company GSI Commerce Inc in a cash-and-debt deal worth about 1.9 billion.

The acquisition will involve cash payment of $1.9 billion and a loan of $467 million to GSI founder Rubin’s new company. The deal is expected to close in the third quarter of 2011.

The deal will strengthen eBay’s Marketplace business.

 

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