eBay acquires controlling stake in Gmarket
April 13th, 2009 Leave a comment Visited 39 times, 2 so far today
eBay acquires controlling stake in Gmarket
US based online auction industry giant eBay has announced that they are now acquiring a controlling stake in South Korean online retailer Gmarket.
The deal is worth around $413 million which comes to a premium of 32.5 percent at current market price of the company.
With this, eBay gets to become a major player in the South Korean online shopping market.
Gmarket has around 10 million customers who use their services to buy and sell products online.
EBay already operates their own South Korean unit, Internet Auction.
Checkout: Gmarket
Acquisitions, eBay, Gmarket, internet auction, online shopping, South Korea, USA, Web Services
Manuj Kumar
Category: Acquisitions
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