eBay Closes GSI Purchase
June 20, 2011,
SAN JOSE, Calif.-eBay has completed its acquisition GSI Commerce, a provider of e-commerce and interactive marketing services.
In accordance with the terms of the deal announced in March, eBay has paid about $2.4 billion for the purchase. GSI will operate as a separate business unit within eBay, headed by newly appointed president Chris Saridakis, who will report to John Donahoe, eBay's president and CEO.
Also as part of the agreement, eBay has completed the divestiture of 100 percent of GSI's sports-merchandise business and 70 percent of ShopRunner and Rue La La, both members-only retail websites, to Michael Rubin, founder and former CEO of GSI.