eBay to sell enterprise business for $900 mn: reports
16 July 2015
E-commerce company eBay Inc is moving towards a deal to sell its enterprise business to a consortium led by PE firm Permira for about $900 million, according to The Wall Street Journal.
WSJ, which cited people familiar with the matter said the deal could be announced as soon as Thursday, along with the company's second-quarter results.
According to the people there was no guarantee of a deal materialising, the newspaper reported.
Earlier this month, people familiar with the matter told Reuters that private equity firm Thomas H Lee Partners LP was discussing the acquisition of eBay's enterprise unit for close to $1 billion.
In January, EBay said it would explore a sale or public offering of the enterprise business, which did not fit neatly with its PayPal or marketplace divisions.
EBay's enterprise business, known earlier as GSI Commerce, helped retailers around the world strengthen their online presence and e-commerce capabilities, generating $288 million in revenue in the first quarter.