EBay to acquire GSI Commerce

Share this content:

EBay has agreed to acquire e-commerce and interactive marketing services provider GSI Commerce for approximately $2.4 billion, the companies said March 28. The acquisition is expected to close in the third quarter.

“The boundaries between online and offline commerce are blurring, said John Donahoe, CEO of eBay, during a conference call announcing the acquisition. “Retailers of all sizes are looking for help to grow their business. Our business is in position to take advantage of this, and today's announcement fits that strategy.”

GSI has more than 180 clients in 14 merchandise categories. The company will operate as a separate business unit, managed by Christopher Saridakis, CEO of GSI's marketing services division. GSI generated $1.4 billion in revenue in 2010, the companies said on the conference call.

“We now have a capability that extends from sole proprietors, small businesses and now large merchants and brands,” said Donahoe. “[Saridakis'] primary focus will be on executing their plan, and we will begin to evolve our platforms on a common direction.” 

EBay will divest 100% of GSI's licensed sports merchandise business and 70% of members-only shopping sites ShopRunner and Rue La La — three businesses that are not core to eBay's long-term growth strategy, according to a company statement. EBay will sell these assets to a newly formed holding company led by GSI founder and CEO Michael Rubin for about $600 million.

GSI acquired sports merchandise retailer Fanatics for $277 million in February and advertising analytics company ClearSaleing for an undisclosed amount the prior month.

Loading links....
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Since 1985, Melissa Data has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa Data offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here