eBay is to acquire GSI Commerce, a provider of
ecommerce and interactive marketing services, for $2.4 billion.
The acquisition will be financed with cash and
debt and is expected to close in the third quarter of 2011.
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GSI’s ecommerce services include payment
processing, order management, fulfillment and customer care. The
company also delivers marketing services including database
management and segmentation, marketing distribution channels,
strategic and creative services and advertising analytics.
“The acquisition of GSI will significantly
strengthen our ability to connect buyers and sellers worldwide,”
said John Donahoe, eBay’s president and CEO. “Combined with eBay
Marketplaces and PayPal, we believe GSI will enhance our position
as the leading strategic global commerce partner of choice for
retailers and brands of all sizes.”
GSI has long-term relationships with around
140 retailers and brands, which it is hoped will be able to
leverage eBay Marketplaces and PayPal services.
“Technology is changing how consumers shop,
and retailers and brands are changing how they compete,” said
Donahoe. “With its complementary strengths, GSI will extend the
power of our portfolio. With eBay, PayPal, GSI and our global
platform capabilities, we are focused on delivering new ways for
retailers and brands of all sizes – from sole proprietors to large
merchants – to drive innovation, engage customers and help people
shop anytime, anywhere and on any device.”
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