Monday, October 6, 2008

eBay Pays $945M For Paypal Competitor Bill Me Later

The online auction company will pay almost $1 billion for U.S. online payment company Bill Me Later Inc. and around $390 million in cash for the operator of two Danish classified advertising sites, Dba.dk and Bilbasen.dk. Bill Me Later is second only to PayPal Inc., the online payment operator that eBay already owns, the company said. The two services complement each other, with Bill Me Later able to offer delayed payment or financing options to eBay customers using PayPal, according to the company. EBay will pay $820 million in cash and $125 million in outstanding stock options. It expects to close the deal by the end of the year. Today, PayPal serves primarily small and midsize businesses. But the acquisition of Bill Me Later will allow the company to target larger customers, PayPal President Scott Thompson said in a conference call for investors.
http://www.computerworld.com/action/article.do?command=viewArticleBasic&taxonomyName=internet_business&articleId=9116358&taxonomyId=71&intsrc=kc_top

2 comments:

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listeasy said...

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