eBay Inc. To Acquire GSI Commerce

eBay Inc. announced that it has agreed to acquire GSI Commerce, a leading provider of e-commerce and interactive marketing services, and the parent company of Columbus-based ClearSaleing, for $29.25 a share, or total consideration of approximately $2.4 billion. The acquisition, which will be financed with cash and debt, is expected to close in the third quarter of 2011. 

“We intend to lead the next generation of commerce innovation. The acquisition of GSI, which offers the most comprehensive integrated suite of online commerce and interactive marketing services available, will significantly strengthen our ability to connect buyers and sellers worldwide,” said John Donahoe, eBay Inc. president and CEO. “Combined with eBay Marketplaces and PayPal, we believe GSI will enhance our position as the leading strategic global commerce partner of choice for retailers and brands of all sizes.”

For complete details, see the release from eBay.