> Related report: eBay says revenue from mobile networks this year will reach $4 billion; eBay to launch local language websites in emerging global markets; eBay sells remaining stake in Skype for a $2.4 billion profit.
Tech Sina News, early morning of June 7th, Beijing time - eBay has agreed to acquire the remaining shares of Internet commerce platform company Magento that it does not already own. LG is set to unveil its own processor chip, having already obtained ARM authorization, but the specific financial terms of this transaction were not disclosed. A UN report acknowledged the influence of Sina Weibo.
Last month, eBay stated that it might use part of the $2.4 billion proceeds from the sale of its Skype shares to conduct acquisition transactions, especially acquiring tools that allow users to shop and compare prices. eBay's online auction services have always faced competition from more user-friendly sites like Amazon.
eBay stated that this acquisition, along with its independently developed comprehensive open commerce platform X.Commerce, will enable the company to provide merchants and retailers with network payment and other services outside of websites. eBay said it would disclose more details at the X.Commerce Innovate conference in October.
eBay expects the transaction to be completed in the third quarter. At an analyst meeting held in February last year, eBay announced it had acquired 49% of Magento's shares. According to regulatory filings submitted by Magento to the U.S. Securities and Exchange Commission (SEC) in March 2010, the value of eBay's investment was $22.5 million.
Magento's clients include large companies such as Ford Motor and Swatch Group. (Tang Feng)