eBay Inc. announced today it has agreed to acquire GSI Commerce, for $2.4 billion ($29.25 a share). The acquisition is expected to close in the third quarter of 2011. The $29.25 price is a 51% premium over GSI's closing price on March 25. GSI provides ecommerce services for retailers, including Toys R Us, Calvin Klein, American Eagle, Ralph Lauren, GNC and Timberland. GSI also provides digital marketing services, which ClickZ describes here.
Jhn Donahoe, president and CEO of eBay, says, "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. 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."
eBay will not keep GSI's licensed sports merchandise business, ShopRunner or Rue La La. eBay said in a statement that it believes these businesses are not core to its long-term growth strategy. 100% of the licensed sports merchandise business and 70% of ShopRunner and Rue La La will be sold to a newly formed holding company, which will be led by GSI founder and CEO Michael Rubin.
eBay Inc. announced today it has agreed to acquire 
