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EBay Agrees to Acquire Shopping.com





Shopping.com is a good company. I use it a lot since when it was still called DealTime. Good luck!

From Wall Street Journal:

Internet auctioneer eBay Inc. agreed to acquire Shopping.com Ltd., an online shopping-comparison site, for $620 million in a bid to boost its slowing growth rate.

EBay said it will pay $21 each for all of Shopping.com's shares outstanding. That's a 20% premium to Shopping.com's price of $17.44, up 37 cents, in 4 p.m. composite trading yesterday on the Nasdaq Stock Market. The transaction is expected to close by September.

The acquisition is eBay's latest effort to reignite its growth, particularly in mature markets such as the U.S. and Germany. In the past few years, eBay has invested heavily in international expansion into countries such as China and India. The San Jose, Calif., company also has developed, acquired and taken stakes in several Internet classified-ad sites.

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