eBay acquires Magento for e-commerce tools

Summary:Online auction site eBay has purchased Magento, creators of the open-source e-commerce platform of the same name.The Magento platform allows online merchants a feature-rich, open-source enterprise e-commerce product that offers users a high degree of flexibility and control over the content and functionality of their online store, eBay said in a statement on Monday.

Online auction site eBay has purchased Magento, creators of the open-source e-commerce platform of the same name.

The Magento platform allows online merchants a feature-rich, open-source enterprise e-commerce product that offers users a high degree of flexibility and control over the content and functionality of their online store, eBay said in a statement on Monday.

"The feedback we've heard from external developers has been clear — they don't just want payments or an e-commerce site; they want access to a full set of commerce capabilities to build complete shopping experiences for merchants," John Donahoe, chief executive of eBay said.

Magento also offers a software-as-a-service (SaaS) version of its platform, called Magento Go, which also provides smaller vendors with online e-tailing tools, such as payments and inventory management options.

A FAQ (PDF) page on the purchase reveals that eBay plans to integrate the Magento platform into its newly created X.commerce platform but will run it as a standalone product until it works out the best way to integrate it.

X.commerce is eBay's cloud-based, open-source e-commerce platform which aims to provide a one-stop-shop for online retailers, for example, by integrating shopping cart, payment services, inventory management, marketplace integration, search engine optimisation and tax guidance.

In 2010 eBay purchased a minority stake in Magento. Following the acquisition it will own all shares in the company and will retain Magento's approximately 290 employees. Financial terms of the deal — which is expected to close in Q3 2011 — were not disclosed.

Topics: Mobility

About

With a psychology degree under his belt, Ben set off on a four-year sojourn as a professional online poker player, but as the draw of the gambling life began to wane his attentions turned to more wholesome employment.With several years' experience covering everything in the world of telecoms and mobility, Ben's your man if it involves a s... Full Bio

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Related Stories

The best of ZDNet, delivered

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
Subscription failed.