Thomas H. Lee Partners LP, the private equity firm, is in advanced talks to acquire eBay's Enterprise segment, formerly known as GSI Commerce, according to Reuters. In January, eBay said it planned to divest its Enterprise business through a sale or IPO.
Sources told Reuters that the business could be sold for close to $1 billion.
GSI Commerce was acquired by eBay for $2.4 billion in 2011. It provides omnichannel sales, fulfillment and marketing services to North America's largest sporting goods retailers, including Dick's Sporting Goods, Sports Chek, Eastern Mountain Sports and Sports Authority, as well and such brands as Helly Hansen, Quiksilver and Timberland. GSI eventually morphed into eBay Enterprise also includes Magento, an e-commerce platform acquired in separate transactions in 2011.
PayPal Holdings Inc (PYPLV.O), which has separated from eBay, will
start trading officially under the ticker PYPL on the Nasdaq later this
month.
The Reuters article is here.
