eBay Agrees to Acquire Magento

Written by Patrick Walsh Wednesday, 08 June 2011 10:48

After first investing in Magento over the last twelve months, eBay has acquired the company. In combination with a number of other recent e-commerce acquisitions, eBay will use Magento to create an e-commerce platform called X.Commerce.

A key element of eBay's strategy is to "build an open global commerce operating system that leverages the worldwide developer community and serves merchants of every size."

"With this acquisition, eBay is placing Magento at the core of their global X.commerce platform."

"From an operational standpoint, very little will change."

(Roy Rubin, Co-founder and CEO of Magento)

According to eBay, X.Commerce is eBay's newly created integrated open commerce platform group. "It is focused on leveraging the company’s assets and partner technologies to build a strong, robust developer community as a resource for merchants and retailers of all sizes."