eBay has announced that it has "reached a definitive agreement to acquire Bill Me Later®, the number two online-oriented payments brand, for approximately $820 million in cash and approximately $125 million worth of outstanding options, net of option exercise proceeds. The acquisition extends the company’s leadership in payments by combining Bill Me Later with eBay’s PayPal, the number one online-oriented payments brand. Subject to various closing conditions, the deal is expected to be completed by year-end." A webcast
and a presentation
are available online - along with a blog post
from PayPal's CEO Scott Thompson.
Among other announcements today, eBay announced "plans to reduce its global workforce by approximately 10 percent, affecting about 1,000 employees in addition to several hundred temporary workers and the reduction of open positions."
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