eBay confirmed today that it has reached an agreement to sell its Enterprise unit to a consortium led by private-equity firm Permira for $925 million.
The group includes Sterling Partners, Longview Asset Management and Innotrac Corporation, a Sterling Partners portfolio company.
As reported by The WSJ yesterday, the company has been looking to sell the Enterprise unit since the beginning of this year.
eBay Enterprise was hit with a tough blow last week as Toys ‘R’ Us announced its plans to take its business elsewhere by the middle of next year.
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The news comes one day before eBay is due to officially spin out PayPal as a separate publicly traded company.
Finalizing the sale of its Enterprise unit and PayPal’s fate leaves eBay free to start its new life as a stand-alone company.
➤ eBay Inc reaches definitive agreement to sell eBay Enterprise [eBay]
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