eBay to Acquire GSI Commerce for $2.4 Billion
eBay to Acquire GSI Commerce for $2.4
Billion
eBay announced on Monday that it has agreed to pay $2.4 billion to acquire GSI Commerce, a provider of ecommerce and interactive marketing services. The purchase price, which breaks down to $29.25 per share, reflects a premium of 51 percent over the stock's closing price on March 25th. The deal is expected to close in the third quarter, after it goes through the usual process of regulatory approval and all other customary closing conditions are met.
Boasting more than 180 customers in 14 different merchandise categories, GSI has a wealth of long-standing commerce services relationships with numerous brands and retailers. eBay explained in a statement that those GSI clients will benefit extensively from its Marketplaces and PayPal services.
Under the terms of the initial proposal, GSI is permitted to seek acquisition proposals from third parties during a 40-day “go-shop” period, which lasts until May 6th. The agreement would allow eBay the right to match any offers.
eBay announced on Monday that it has agreed to pay $2.4 billion to acquire GSI Commerce, a provider of ecommerce and interactive marketing services. The purchase price, which breaks down to $29.25 per share, reflects a premium of 51 percent over the stock's closing price on March 25th. The deal is expected to close in the third quarter, after it goes through the usual process of regulatory approval and all other customary closing conditions are met.
Boasting more than 180 customers in 14 different merchandise categories, GSI has a wealth of long-standing commerce services relationships with numerous brands and retailers. eBay explained in a statement that those GSI clients will benefit extensively from its Marketplaces and PayPal services.
Under the terms of the initial proposal, GSI is permitted to seek acquisition proposals from third parties during a 40-day “go-shop” period, which lasts until May 6th. The agreement would allow eBay the right to match any offers.
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