eBay Enterprise to be sold before eBay/PayPal split
The eBay Enterprise division of eBay Inc. is expected to be sold in advance of the formal eBay/PayPal split. The divorce is expected to come through on July 1st 2015.
eBay Enterprise currently offers selling software, customer service, warehousing and fulfilment services.
eBay Inc. bought GSI Commerce (which became eBay Enterprise) in 2011 for $2 billion and it will reportedly fetch a price of $1 billion or maybe $1.5 billion on sale.
John Donohoe explained the sale in advance of the divorce by saying it had “limited synergies” with eBay’s marketplaces. Private equity firm Thomas H. Lee Partners is understood to be one firm currently bidding to bag the spun off division.
another vastly over paid for company in the .com age,
ebay seem good at buying high and selling cheap!