Rochester, NY 9/1/2009 9:47:23 PM
eBay Inc., EBAY, Up by 0.41 cents in Tuesday Morning Trading
eBay Inc.
eBay Inc. announced it has signed a definitive agreement to sell its Skype communications unit in a deal valuing the business at $2.75 billion. The buyer, who will control an approximately 65% stake, is an investor group led by Silver Lake and includes Index Ventures, Andreessen Horowitz and the Canada Pension Plan (CPP) Investment Board.
eBay is expected to receive approximately $1.9 billion in cash upon the completion of the sale and a note from the buyer in the principal amount of $125 million. The Company will retain an approximately 35% equity investment in Skype. The transaction, which is not subject to a financing condition, is expected to close in the fourth quarter of 2009.
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Last Trade: 22.73
Day's Range: 22.09 - 23.18
52wk Range: 9.91 - 25.32
Change: Up 0.53 (2.39%)
Volume: 11,919,781
Avg Vol (3m): 18,779,500
ABOUT eBay Inc.
eBay Inc. provides online marketplaces for the sale of goods and services, as well as other online commerce, or ecommerce, platforms, online payments services and online communications offerings to a diverse community of individuals and businesses. The Company has three business segments: Marketplaces, Payments and Communications. Its Marketplaces segment provides the infrastructure to enable global online commerce through a variety of platforms, including the traditional eBay.com platform and eBay’s other online platforms. eBay’s Payments segment comprises its online payment solutions PayPal and Bill Me Later. Its Communications segment, which consists of Skype Technologies S.A. (Skype), enables voice over Internet protocol (VoIP) calls between Skype users, and provides connectivity to traditional fixed-line and mobile telephones. In November 2008, eBay acquired Bill Me Later.
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