eBay agrees to buy GSI Commerce Inc. (GSIC) for $2.4 billion

By on Mar 29, 2011 in Business Comments

Online marketplace eBay agreed to buy GSI Commerce Inc. (GSIC) for approximately $2.4 billion in cash and debt or $29.25 a share, which is expected to close the third quarter of 2011.

eBay and GSI logo
Coined by Batangas Today

As announced by eBay on its official website on Monday, March 28, 2011, the company has agreed to acquire GSI Commerce, a leading provider of e-commerce and interactive marketing services.

The said agreement, in which conditions are still subject for approval of GSI shareholders, represents a 51 percent premium over GSI as of March 25, 2011.

“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.” eBay Inc. President and CEO John Donahoe was quoted in the announcement.

“We intend to lead the next generation of commerce innovation. The acquisition of GSI, which offers the most comprehensive integrated suite of online commerce and interactive marketing services available, will significantly strengthen our ability to connect buyers and sellers worldwide.” Mr. Donahoe added.

GSI, having Adidas, Ralph Lauren, and Mattel as among the 180 clients in 14 merchandise categories, eBay said that the company have already established long-term commerce services relationships with leading retailers and brands.

Meanwhile, an analysis noted at The Wall Street Journal said the deal will affect this year’s earning of eBay but will add to them most likely in 2012.

Spread The News!

Tags: , , , , ,


Related News

What's On Your Mind?