eBay to Acquire Open Source E-Commerce Platform Magento

    June 6, 2011
    Chris Crum

eBay announced it has agreed to acquire open source e-commerce platform Magento, which the company has had a minority stake in since 2010. eBay will own the entire thing once the transaction closes (the terms of which have not been disclosed).

eBay CEO John Donahoe uploaded the following message to developers:

Magento will join eBay’s integrated open source platform group X.Commerce, which eBay says is focused on leveraging the company’s assets and partner technologies to build a strong developer community as a resource for merchants.

Today X.com truly becomes X.Commerce with Payments, Commerce, Auctions, and more … exciting day for #Commerce developers ! 2 minutes ago via TweetDeck · powered by @socialditto

eBay promises more details about its plans at the X.Commerce Innovate conference in October.