eBay Acquires GSI Commerce for $2.4 billion
eBay has announced its acquisition of ecommerce services company GSI Commerce, the company's second-largest acquisition after its $2.6 billion purchase of Skype in 2005.
"We intend to lead the next generation of commerce innovation. The acquisition of GSI, which offers the most comprehensive integrated suite of online commerce and interactive marketing services available, will significantly strengthen our ability to connect buyers and sellers worldwide," said John Donahoe, eBay Inc. President and CEO. "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."
GSI Commerce specializes in creating, developing and running online shopping sites for high street brands and retailers. The company also provides a variety of marketing, consumer engagement, customer care, payment processing, fulfillment, fraud detection, and technology integration services. GSI Commerce has over 500 clients including Timberland, RadioShack and Toys "R" Us, and operates 26 offices worldwide.