EBay Inc (EBAY.O) said on Monday it is buying Magento Inc, the creator of an open source e-commerce platform, as part of the online marketplace company's push to provide technology resources for merchants and retailers. EBay, which took a minority stake in Magento last year, will purchase the rest of the company. The company said the deal would not affect its results for the current fiscal year. Terms of the deal were not disclosed. EBay said that Magento would complement the efforts of its recently formed X.Commerce platform group to serve developers. The deal is the latest in a string of acquisitions for eBay this year. In April it bought local advertising company Where, and in March it said it would buy e-commerce service provider GSI Commerce Inc (GSIC.O) for $2 billion,
eBay Inc. (eBay) bring together buyers and sellers every day on a local, national and international basis through a range of Websites. Shares of EBAY fell by 0.56% or $-0.17/share to $30.13. In the past year, the shares have traded as low as $19.06 and as high as $35.35. On average, 9771750 shares of EBAY exchange hands on a given day and today's volume is recorded at 3679111.
GSI Commerce, Inc. is a provider of e-commerce and interactive marketing services to businesses that sell products directly to consumers (b2c). Shares of GSIC traded higher by 0.1% or $0.0289/share to $29.2189. In the past year, the shares have traded as low as $17.77 and as high as $31.35. On average, 2598110 shares of GSIC exchange hands on a given day and today's volume is recorded at 347729.
Source
