default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

EBay Nearing Deal to Sell Enterprise Unit for about $900 Million

E-commerce company eBay Inc is nearing a deal to sell its enterprise business to a consortium led by private equity firm Permira for about $900 million, according to sources familiar with the matter.
By
  • Reuters

SAN FRANCISCO, United States — E-commerce company eBay Inc is nearing a deal to sell its enterprise business to a consortium led by private equity firm Permira for about $900 million, the Wall Street Journal reported.

The deal could be announced as soon as Thursday, along with the company's second-quarter results, according to people familiar with the matter.

Sources said there was no guarantee a deal would be reached.

Earlier this month, people familiar with the matter told Reuters that private equity firm Thomas H. Lee Partners LP was in talks to buy eBay's enterprise unit for close to $1 billion.

EBay said in January that it would explore a sale or public offering of the enterprise business, which did not fit neatly with its PayPal or marketplace divisions.

EBay's enterprise business, formerly known as GSI Commerce, helps retailers around the world beef up their online presence and e-commerce capabilities. It generated $288 million in revenue in the first quarter.

GSI Commerce was acquired by eBay for $2.4 billion in 2011. It has lost customers and seen sluggish growth in the past few years with clients moving their online operations in-house.

An eBay spokeswoman said the company does not comment on rumour or speculation.

Permira could not be reached for comment outside regular business hours.

By Ankush Sharma, Mari Saito; editor: Anupama Dwivedi.

In This Article

© 2022 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Technology
How is technology disrupting and creating new opportunity?

In the opening days of its trial against the MetaBirkins creator, the luxury house revealed some of its own thinking around web3 and virtual worlds.



Supercharged chatbots, hyper-personalised marketing copy and new ways for shoppers to discover fashion online are just a few of the dream applications for ChatGPT and similar AI models.


view more

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional Summit - An Inflection Point in Fashion Tech
© 2023 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions and Privacy policy.
BoF Professional Summit - An Inflection Point in Fashion Tech