eBay announced Monday that it will acquire GSI Commerce, an e-commerce marketing services company, for $29.25 a share--which will likely come out to be around $2.4 billion.
To put things into perspective, that's more than it paid for PayPal, and only slightly less than it paid for Skype (which is has now sold off). The acquisition is expected to close in the third quarter of this year.
This is interesting, I've used their affiliate network, it seems like it was run by a bunch of pumped-up under-experienced marketing kids "we'll sell you anything, no go do it for us". Young over-hyped network.
This is clearly eBay going for the ShopRunner service. GSI CEO also mentioned they send billions of emails?
There's a bunch of stuff sold back to GSI, so some sort of money laundering/hiding will be clearly going on, and the final number should not be nearly as big. Congrats to Michael.
[edited by: aleksl at 9:23 pm (utc) on Mar 28, 2011]