eBay completes Magento acquisition


17 Aug 2011

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Online auction giant eBay has completed it acquisition of Magento, Inc., the creators of Magento, an open-source e-commerce platform. Terms of the deal were not disclosed.

The deal follows eBay’s acquisition of a minority stake in the company last year. eBay now owns 100pc of the outstanding shares of Magento.

The Magento platform serves tens of thousands of merchants worldwide. A global community of solution partners and third-party developers support the platform.

Magento is a feature-rich and enterprise-class commerce solution that offers merchants flexibility and control over the user experience, catalogue, content and functionality of their online stores. Magento Go, the company’s hosted software-as-a-service solution, provides small and growing merchants with tools to help them succeed online, from payments to inventory management.

Magento will be a part of X.commerce, eBay Inc.’s integrated open commerce platform group, focused on leveraging the company’s assets and partner technologies to build a strong, robust developer community as a resource for merchants and retailers of all sizes.

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