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This article was published on October 6, 2008


eBay buys Denmark’s DBA for 275 million euro, U.S.-based Bill Me Later for approximately 600 million euro, and cuts jobs

eBay buys Denmark’s DBA for 275 million euro, U.S.-based Bill Me Later for approximately 600 million euro, and cuts jobs
Robin Wauters
Story by

Robin Wauters

Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family a Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family and Belgian beer. If you'd like to know more about Robin, head on over to robinwauters.com or follow him on Twitter.

TechCrunch is reporting that eBay has acquired the company that runs DBA.dk, the so-called “eBay of Denmark” for 2.1 billion Kroner, or about 275 million EUR. The company has also acquired vehicles site bilbasen.dk, which TC hasn’t mentioned in the original report.

But that’s not all.

In payments, the company is acquiring the U.S.-based online payments business Bill Me Later for approximately $820 million in cash and approximately $125 million in outstanding options. John Donahoe, eBay’s president and chief executive officer says the service is a perfect complement to their portfolio, “a company that belongs with PayPal”.

At the same time, the company is reducing its global workforce by approximately 10 percent, affecting about 1,000 employees in addition to several hundred temporary workers and the reduction of open positions. Valleywag got it right. The reduction is expected to result in pretax restructuring charges of approximately $70 million to $80 million, with the charges predominantly recorded in the fourth quarter of 2008.

eBay is scheduled to announce third quarter results on October 15.

The press release about the acquisitions and the job cuts can be found here.