Most Read: Business

 Last Update: : AM 05/03/2015(NASDAQ&DJIA)

World Markets from      


Other Market Data from      


Key Rates from      


Blog Contributors

Timothy B. Lee

Timothy B. Lee

Timothy B. Lee covers technology policy, including copyright and patent law, telecom regulation, privacy, and free speech. He also writes about the economics of technology. He has previously written for Ars Technica and Forbes. You can follow him on Twitter or send him email.

Brian Fung

Brian Fung

Brian Fung covers technology for The Washington Post, focusing on electronic privacy, national security, digital politics and the Internet that binds it all together. He was previously the technology correspondent for National Journal and an associate editor at the Atlantic. His writing has also appeared in Foreign Policy, Talking Points Memo, the American Prospect and Nonprofit Quarterly. Follow Brian on Google+ .

Andrea Peterson

Andrea Peterson

Andrea Peterson covers technology policy for The Washington Post, with an emphasis on cybersecurity, consumer privacy, transparency, surveillance and open government. She also delves into the societal impacts of technology access and how innovation is intertwined with cultural development.

Post Tech
About / Where's Post I.T.?   |    Twitter  |   On Facebook  |  RSS RSS Feed  |  E-Mail Cecilia
Posted at 12:04 PM ET, 03/28/2011

eBay acquires GSI Commerce for $2.4 billion

Online auction site eBay announced it has agreed to buy the ecommerce and interactive marketing firm GSI Commerce in a $2.4 billion deal. The acquisition was financed with cash, and debt and is expected to close in the third quarter of 2011.

As part of the deal, eBay will divest GSI’s sports merchandise business and 70 percent of ShopRunner and Rue La La. Those assets will be sold to a new holding company, led by GSI founder and chief executive Michael Rubin.

“Combined with eBay Marketplaces and PayPal, we believe GSI will enhance our position as the leading strategic global commerce partner of choice for retailers and brands of all sizes,” eBay said in a press release.

GSI Commerce clients include Adidas, Ralph Lauren, Mattel, QVC and others.

Related stories:

Hey, eBay Actually Did Ok With Skype

EBay CEO John Donahoe’s pay package climbed 22 percent in 2010

By  |  12:04 PM ET, 03/28/2011

Read what others are saying

    © 2011 The Washington Post Company