/ Source: The Associated Press
EBay has agreed to buy GSI Commerce, a digital marketing and e-commerce company, for $2.4 billion.
Ebay Inc. says the acquisition will bolster its capacity to connect buyers and sellers around the world.
The online marketplace operator has agreed to pay $29.25 per share, a 51 percent premium to GSI's closing stock price on Friday.
As part of the deal, eBay plans to sell GSI's licensed sports merchandise business and 70 percent of shopping sites RueLaLa.com and ShopRunner.com.
EBay hopes to complete the deal in the third quarter. It says its 2011 net income per share will be 30 cents to 34 cents lower than its earlier outlook. In January, it had forecast earnings of $1.56 to $1.61 per share.