A consortium comprised of Sterling Partners, Longview Asset Management, Sterling Partners‘ portfolio company Innotrac Corp and companies owned by Permira Funds have closed its previously announced acquisition of eBay’s enterprise unit for $925 million. As a result of the transaction, Sterling Partners now owns eBay’s enterprise operations and enterprise technology services while Permira Funds owns the Magento commerce technologies’ business, the marketing solutions business and the CRM business.
SAN JOSE, Calif.–(BUSINESS WIRE)–eBay Inc. (NASDAQ: EBAY) today completed the previously announced sale of eBay Enterprise to a consortium consisting of Sterling Partners, Longview Asset Management, and the Innotrac Corporation, a Sterling Partners portfolio company, together in partnership with companies owned by the Permira Funds for $925 million.
The consortium of buyers has separated eBay Enterprise into four distinct businesses:
Enterprise Operations & Enterprise Technology Services is owned by Sterling Partners.
The Magento Commerce Technologies business is owned by the Permira Funds.
The Marketing Solutions business is owned by the Permira Funds.
The CRM business is owned by the Permira Funds.
eBay Inc. (NASDAQ: EBAY) is a global commerce leader including the eBay, StubHub and eBay Classifieds platforms. Collectively, we connect millions of buyers and sellers around the world, empowering people and creating opportunity through Connected Commerce. Founded in 1995 in San Jose, Calif., eBay is one of the world’s largest and most vibrant marketplaces for discovering great value and unique selection. In 2014, eBay enabled $83 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com