Open source e-commerce platform Magento announced on Monday that it has been acquired by eBay, according to a blog post. The amount of the acquisition was not disclosed.
Magento is the base for several Web hosting providers e-commerce packages. Recently managed hosting provider Coeus Blue joined AWS Solution Provider Program to offer services through its Magento hosting environment. More recently Nexcess expanded its Magento e-commerce hosting line in the UK.
Magento says it believes this move will open opportunities for the entire Magento ecosystem, including becoming a part of an open commerce platform being developed by eBay.
"eBay is evolving to become a strategic commerce partner focused on delivering new ways for merchants of all sizes to drive innovation," Magento writes in its blog post. "As a centerpiece of this strategy, they are building a global, open commerce platform that leverages the worldwide developer community. And Magento will be at the core of this new, open commerce platform, called 'X.Commerce.'"
In March 2010, eBay became Magento's first outside investor, according to the post. "[eBay] have experienced the passion of the Magento ecosystem, and they are eager to harness the power of this ecosystem to create the next generation of eCommerce innovation," Magento says.
After the acquisition closes, Magento says it will continue to operate out of Los Angeles and "continue building our team and enhancing our product line, including the Magento Community, Enterprise, and Mobile Editions, as well as Magento Go and the Magento Go Platform. And we'll continue strengthening our training, education, packaged consulting services and support efforts around the world."
"Technology-driven innovation is blurring the lines between online and offline commerce, changing the way consumers shop, and enabling retailers of all sizes to benefit from the latest innovations from the developer community," John Donahoe, president and chief executive officer, eBay Inc. said in a statement. "The feedback we've heard from external developers has been clear - they don't just want payments or an e-commerce site; they want access to a full set of commerce capabilities to build complete shopping experiences for merchants. We believe the acquisition of Magento and creation of our X.Commerce group will enable us to meet developers' needs and drive global commerce innovation for retailers and consumers."
Return to business news headlines
View Business News Archive