EBay sells unit to re-organize

17 Jul 2015

Minutes before today’s split of EBay and PayPal, EBay has dumped its Enterprise unit for just short of $1 billion. The company helps run Ikea, Timberland and iRobot. The purchaser, a group that paid $925 million, includes private-equity firms Permira and Sterling Partners.

EBay bought GSI Commerce for $2.4 billion in 2011 and converted it to the Enterprise business. The deal was supposed to hel

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Patrick Peterson

Patrick Peterson joined the AIM Group in 2014 as the editor for Asia and Latin America. With 30 years of daily journalism experience as a writer and editor, Patrick Peterson has covered a diverse range of topics, from the invasion of Iraq to the business of the U.S. space industry.He has worked for newspapers in Jackson, MS; Hampton, VA; Biloxi, MS; and Melbourne, FL. He is now a freelance business writer in Orlando, where he lives with his wife, Lisa, who teaches film production management at the University of Central Florida.