eBay acquires Magento
Written by Mark Clark - Sat Jul 16, 11:31 pm ET
On the morning of June 6th, Magento Inc announced that it had had reached an agreement to be acquired by eBay Inc. The pending acquisition – scheduled to close in the 3rd quarter of 2011 – will enable Magento to accelerate our growth and extend our reach as part of eBay Inc.’s X.commerce platform.
eBay is evolving to become a strategic commerce partner focused on delivering new ways for merchants of all sizes to drive innovation. As a centerpiece of this strategy, they are building a global, open commerce platform that leverages the worldwide developer community. And Magento will be at the core of this new, open commerce platform, called “X.Commerce.”
Partnering since 2010
Magento and eBay have a bit of a history together already. In March 2010, eBay became their first outside investor. Over the past year, eBay has gotten to know the platform, the culture, and the community. They have experienced the passion of the Magento ecosystem, and they are eager to harness the power of this ecosystem to create the next generation of eCommerce innovation.
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Video from CEO Roy Rubin
Video from the CEO at eBay
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