Word hit the street late last week that eBay has confirmed previous rumors that it’s selling its enterprise services business, eBay Enterprise, for $925 million to a consortium consisting of Sterling Partners, Longview Asset Management, and the Innotrac Corporation, a Sterling Partners portfolio company, together in partnership with companies owned by the Permira Funds. The transaction is expected to close in the second half of 2015.
Craig Haymen, President of eBay Enterprise shared belief in a recent blog post that the deal will provide significant opportunity and will allow the company to continue to focus on areas of proven strength. He also writes that, “eBay Enterprise remains committed to its clients. You can expect the same high level of performance from our team.”
eBay Enterprise consists of four divisions – Magento Commerce Technologies, eBay Marketing Solutions, Enterprise Services and Operations. Their portfolio of solutions enables retailers, brands, and manufacturers to leverage technology investments to get to market quickly and deliver connected consumer experiences across all touchpoints of the purchase lifecycle.
Magento, one of Perficient’s e-commerce technology platform partners, is core to the eBay Enterprise portfolio. eBay invested heavily in Magento’s technology and expectations are that the new investors will continue to build on and support future growth of the e-commerce platform. Magento is expected to launch version 2.0 later this year and will include more features to support B2B e-commerce. We don’t expect this news to alter plans for the release.
I’m excited to follow the news and to hear more from the buyers about their plans for the business upon close of the deal later this year.
eBay sells eBay Enterprise to group of investment firms
by Allison Gugala on July 21st, 2015 | ~ minute read
