eBay announced its $2.4 billion acquisition GSI Commerce in March and today the company is one step closer to its acquisition. The two companies have announced that they are settling claims filed in a Delaware state court; and GSI shareholders will be paid a settlement amount equivalent to about $0.33 a share.
The acquisition is expected to close this week, on June 17. With more than 180 customers across 14 merchandise categories, GSI has long-term commerce services relationships with a wealth of retailers and brands. eBay says it expects GSI clients to benefit from eBay’s Marketplaces and PayPal services, particularly.
The lawsuit was filed in late March by an investor, claiming that the offer was a “bargain price.”
As we wrote previously, as part of the transaction, eBay will divest 100 percent of GSI’s licensed sports merchandise business and 70 percent of ShopRunner and Rue La La.
Founded in 1995 in San Jose, CA, eBay connects millions of buyers and sellers globally in the world’s largest online marketplace, utilizing PayPal to ensure secure transactions. The company also operates specialized marketplaces such as StubHub, the world’s largest ticket marketplace, and eBay Classifieds sites, which together have a presence in more than 1,000 cities around the world. eBay items can be sold either via a silent auction, in which users input the maximum price they are willing to...
GSI Commerce is a technology and services company that provides e-commerce, multichannel, and interactive marketing solutions to hundreds of brands and retailers in the U.S. and internationally. GSI is comprised of three business units: E-Commerce Services, Global Marketing Services and Consumer Engagement. E-Commerce Services provides an e-commerce technology platform for brands and retailers, in addition to multichannel, order fulfillment and customer call center services. The Global Marketing Services unit is comprised of e-mail and interactive marketing technology providers such as...
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