Wednesday, August 17, 2011

Magento Acquisition By eBay Completes

Los Angeles-based Magento, the developer of open source, e-commerce software, has officially become part of eBay, eBay announced Wednesday afternoon. eBay had originally announced its acquisition of Magento in June. Financial terms of the buy were not disclosed. eBay said that it is making Magento part of its X.commerce, integrated open commerce platform group. Magento was headed by Roy Rubin.