The week started this morning with some blockbuster e-commerce news: eBay announced it is acquiring GSI Commerce for approximately $2.4 billion. The acquisition is expected to close in Q3 2011.
The deal is great news for eBay, which has been steadily trying to transform itself from an auctions-oriented company to an e-commerce platform. This is also great news for GSI Commerce, which has been trying to expand its businesses by investing in new categories, though the impact on GSI customers remains to be seen.
As part of the sale, eBay will divest 100 percent of GSI's licensed sports merchandise business and 70 percent of GSI-owned ShopRunner and Rue La La. These assets will be sold to a newly formed holding company, which will be led by GSI founder and Chief Executive Officer Michael Rubin.
We will be monitoring the fallout and commentary from today’s news closely and will keep you posted on the broader e-commerce industry implications.
The deal is great news for eBay, which has been steadily trying to transform itself from an auctions-oriented company to an e-commerce platform. This is also great news for GSI Commerce, which has been trying to expand its businesses by investing in new categories, though the impact on GSI customers remains to be seen.
As part of the sale, eBay will divest 100 percent of GSI's licensed sports merchandise business and 70 percent of GSI-owned ShopRunner and Rue La La. These assets will be sold to a newly formed holding company, which will be led by GSI founder and Chief Executive Officer Michael Rubin.
We will be monitoring the fallout and commentary from today’s news closely and will keep you posted on the broader e-commerce industry implications.
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