On the eve of its separation with PayPal, eBay has agreed to sell off its eBay Enterprise unit for $925 million, the company announced this morning to various reports.
eCommerce giant to sell Enterprise unit for N185 billion
The division, which helps power the online stores for retailers and brands, will be acquired by a group of investment entities.
Sources say the division, which helps power the online stores for retailers and brands, will be acquired by a group of investment entities including the private equity firms Sterling Partners and Permira.
According to reports, the move comes as eBay finalizes its spinoff of PayPal tomorrow, and the two companies will prepare to open up for regular trading on Nasdaq as two separate companies on Monday.
EBay had announced in the fall that it would separate its marketplace shopping business and PayPal business after initially pushing back on such an idea when investor Carl Icahn called for it early in 2014.
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