eBay's Big eCommerce Strategy Takes Shape With Magento and x.commerce

Following the revelation in February that eBay owned 49% of open-source ecommerce platform Magento, eBay has completed the acquisition by buying the remaining 51% of shares.

Magento, along with GSI Commerce which eBay acquired in March, will form part of eBay's new x.commerce platform based at the former home of the PayPal Developer's Program x.com.

In a YouTube message to eCommerce developers, eBay CEO John Donahoe said "Magento builds on our existing technology assets and is complementary to the platform capabilities of GSI Commerce...combined we believe that these acquisitions will position us to become the strategic commerce partner of choice for retailers of all sizes."

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