In a truly massive – both in terms of meaning and dollar value – transaction, online and e-commerce heavyweight eBay Inc. sold its eBay Enterprise division for $925 million to a consortium partnership between equity firms Permira and Sterling Partners. This sale comes fast on the heels of a January split between eBay and Paypal.
Technically speaking, international private equity firm Permira and growth-oriented private equity firm Sterling Partners joined forces to create a consortium – which consists of Sterling Partners, Longview Asset Management, the Innotrac Corporation and assorted companies owned by the Permira funds. This consortium then purchased eBay Enterprise for the massive $925 million total.
Practically speaking, the transaction is equally intricate and huge. eBay Enterprise consists of four divisions – eBay Marketing Solutions, Enterprise Services, Operations and Magento Commerce Technologies.
Magento could very well be considered the crown jewel of eBay Enterprise. Magento is used to power some of the largest websites and most powerful online e-tailers in the world, and its super-scalable, cutting-edge technology continues to gain converts due to its all-around excellence. In fact, there’s an impending release of Magento 2 due, just right around the corner now.
What Sets Magento Apart
Magento has continued to innovate and evolve since its debut, and both the product and its ecosystem continue to grow more and more powerful.
Magento offers online store owners and e-tailers a truly flexible platform that is customizable, scalable and mobile-ready. It empowers merchants to secure several benefits, including increased sales and SEO enhancements. It reduces long-term maintenance costs and eases the site-updating process. And it offers support for native applications on the iPhone, iPad and Android devices, which is vital in our increasingly mobile-driven and app-obsessed society.
Due to its breadth, depth, flexibility, scale and open-source structure, Magento also continues to be incredibly popular and successful with developers everywhere. In the eyes of developers, Magento is special.
Things Are About To Get Even Better…
Now, let loose from the tight corporate reins of online monolith eBay, Magento stands to become even more special – both in the eyes of developers and e-tailers alike.
Giant companies move slow. Even the tech-oriented ones. They can’t help it, really. It’s just what they do. What they’ve always done. There’s too much red tape. Too many corporate layers. Too many meetings. Too many meetings about meetings about meetings.
Technological advances, on the other hand, move fast. Online customers move fast. Merchants move fast. Everything moves fast – super fast, and increasingly faster by the week, month and year.
Come Grow With Us
Here at Imagination Media, we’re uniquely positioned to help you take off alongside the newly unfettered Magento.
We boast more than 10 years of in-depth experience working with e-commerce solutions, including specialization in Magento deployment and customization for half a decade. We also possess a wealth of strategic relationships within the Magento community, and offer an array of analytical and support services.
We’ve also been diligently and wisely preparing for the upcoming release of Magento 2. We’re at the forefront of testing and creating solutions on this exciting new platform, and when it’s released, we’ll be more than ready to ensure that our customers are guaranteed an efficient and effective migration.
Contact us today to see how we can help you grow your e-commerce business. And begin a powerful partnership between you, us and Magento.