View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
July 10, 2015

US equity firm close to signing $1bn eBay enterprise buy

Could Thomas H. Lee Partners be the buyer eBay have been looking for?

By CBR Staff Writer

US-based private equity firm Thomas H. Lee Partners is reportedly in advanced negotiations to buy the enterprise business of eBay for a reported $1bn.

The e-commerce company has been looking for a buyer since January this year, when it planned to slash its workforce by 7%, impacting up to 2,400 jobs.

Citing people familiar with the matter, Reuters reported that Thomas H. Lee has so far beat other companies in the auction for eBay’s enterprise business, but there is still no certainty an agreement will be reached, adding that there are still disagreements over price.

Thomas H. Lee Partners’ purchase price of $1bn would be less than half the $2.4bn eBay paid in 2011 to acquire the unit, which was known as GSI Commerce at that time.

Toys "R" Us, a client of GSI Commerce since 2006, said it would take control of its e-commerce operations in the US by mid-2016, instead of depending on eBay Enterprise.

eBay plans to spin off its PayPal payments unit business in the next quarter. In 2002, eBay bought PayPal for nearly $1.5bn in shares, and integrated the payment service into its own offerings.

Last month, eBay sold its 28.4% stake in Craigslist back to the online classified advertising website, ending all legal battles.

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.