July 16, 2015 / 2:32 AM / in 2 years

eBay nearing deal to sell enterprise unit for about $900 million: WSJ

(Reuters) - E-commerce company eBay Inc is nearing a deal to sell its enterprise business to a consortium led by private equity firm Permira for about $900 million, the Wall Street Journal reported.

EBay signs are seen in an eBay office space in San Jose, California in a May 28, 2014 file photo. REUTERS/Beck Diefenbach/Files

The deal could be announced as soon as Thursday, along with the company’s second-quarter results, the Journal reported, citing people familiar with the matter.

The people said there was no guarantee a deal would be reached, the newspaper reported.

Earlier this month, people familiar with the matter told Reuters that private equity firm Thomas H. Lee Partners LP was in talks to buy eBay’s enterprise unit for close to $1 billion.

EBay said in January that it would explore a sale or public offering of the enterprise business, which did not fit neatly with its PayPal or marketplace divisions.

EBay’s enterprise business, formerly known as GSI Commerce, helps retailers around the world beef up their online presence and e-commerce capabilities. It generated $288 million in revenue in the first quarter.

GSI Commerce was acquired by eBay for $2.4 billion in 2011. It has lost customers and seen sluggish growth in the past few years with clients moving their online operations in-house.

An eBay spokeswoman said the company does not comment on rumor or speculation.

Permira could not be reached for comment outside regular business hours.

Reporting by Ankush Sharma in Bengaluru and Mari Saito in San Francisco; Editing by Anupama Dwivedi

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