Ebay Inc. completed the sale of Ebay Enterprise to a consortium consisting of Sterling Partners, Longview Asset Management, and the Innotrac Corporation, a Sterling Partners portfolio company, together in partnership with companies owned by the Permira Funds for $925 million.
The unit specializes in developing and managing e-commerce sites for
retailers. Clients include Dick's Sporting Goods, Sports Authority, DSW,
Shoe Carnival, Eastern Mountain Sports, Orvis, Fanatics, MLB, NBA, NFL,
Helly Hanson, Quiksilver, Speedo and Timberland.
The former enterprise services division of Ebay Enterprise will be integrated with the operations of Innotrac Corp after the 2015 holiday season, and the company will be re-branded in 2016. Tobias Hartmann, previously vice president and general manager of the enterprise services division of Ebay Enterprise, will serve as the president of the new company.
The combined operations portions of Ebay Enterprise and Innotrac will have more than 7,500 employees, operate 27 distribution centers and six customer service sites across North America and Europe, and offer platforms in the areas of omni-channel ship from store, software, order management, payments, tax, and fraud solutions globally.
“With the support of Sterling Partners and the integration of Innotrac, we will be a leading independent player in the industry,” Hartmann said. “We'll use our scale, technology, and expertise to benefit our clients and ensure they continue to win for their customers.”
Ebay Enterprise’s other segments – The Magento Commerce Technologies, Marketing Solutions and its CRM business was sold to Permira Funds.
Ebay acquired GSI Commerce in 2011 for $2.4 billion, and acquired Magento in 2012. It rebranded the unit to Ebay Enterprise in 2013 before activist investor Carl Icahn began pushing for the breakup of eBay that has also included the spinoff of PayPal.
