San Jose's eBay is primed to purchase GSI Commerce, for $2.4 billion, according to thestreet.com.
The deal is reportedly closing in the third quarter of this year, with eBay offering $29.95 a share for GSIC -- a 51 percent premium over their Friday closing price. Shares for eBay are down this morning, almost 3 percent as of this post.
"We intend to lead the next generation of commerce innovation. The acquisition of GSI, which offers the most comprehensive integrated suite of online commerce and interactive marketing services available, will significantly strengthen our ability to connect buyers and sellers worldwide," eBay CEO John Donahoe said in a press release.
GSI has a "grab bag of different tools [for] merchants," according to Barrons.com. This includes inventory management and other site software.
GSI will divest its licensed sports management business and 70 percent of ShopRunner and Rue La La (both are shopping clubs).
