EBay expected to announce $900m sale of enterprise unit: WSJ
Online marketplace giant could offload sluggish division to equity firm Permira
Online marketplace giant eBay is close to announcing a $900m sale of its enterprise unit to private equity firm Permira, the Wall Street Journal reported.
The deal could be announced later today along with quarterly financials, the paper claimed, citing inside sources who also admitted the deal was still not a certainty.
EBay’s enterprise division operates as a consultancy and hosting service, helping businesses build more successful e-commerce offerings. It was acquired for $2.4bn by the company in 2011, when it was known as GSI Commerce.
Since acquisition the unit has lost money and is being offloaded as eBay reportedly no longer considers it a fit for its portfolio, which also includes online payment service PayPal.