eBay is selling its enterprise unit, and broke into its second quarter 2015 earnings call with analysts to announce it had found a buyer.
Permira, an international private equity firm, and Sterling Partners, a growth-oriented private equity firm, announced that a consortium signed a definitive agreement to acquire eBay Enterprise for $925 million.
Just one month ago, Bloomberg said insiders had valued the deal at between $1 billion and $1.5 billion. Since then, Toys R Us announced it was dropping eBay Enterprise web development to bring it in-house.
The consortium consists 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.
eBay Enterprise consists of four divisions – Magento Commerce Technologies, eBay Marketing Solutions, Enterprise Services and Operations.
The transaction, which is expected to close in the second half of 2015, is subject to certain regulatory approvals and customary closing conditions.
