The X Factor
The buying spree that eBay’s been on the past 18 months continued into June, with the company acquiring the remaining 51-percent stake it did not already control in Magento. Magento’s open-source software is used by tens of thousands of merchants worldwide, making the platform one of the most highly regarded enterprise-class e-commerce solutions. The acquisition falls directly in line with eBay’s purchases of GSI Commerce, Milo, WHERE and numerous other deals, all designed to establish strongholds in local, mobile and social commerce both online and offline. Magento is expected to be integrated into eBay’s new open-commerce platform group called X.Commerce, which will launch in the fall and combine the company’s new assets to form a developer community for retailers.