Wednesday, April 15, 2009

eBay Acquires Korea's Gmarket

San Jose-based eBay and Korean firm Gmarket said late Wednesday that they two have agreed to combine Gmarket with eBay's Korean operations. According to the firms, the deal is worth $24.00 per share of Gmarket common shres and American Depository Shares, worth approximately $1.2 billion. The firms said that Gmarket had around $3.2 billion in gross merchandise volume, and $220.8 million in revenues in 2008. Gmarket offers ecommerce marketplaces across a wide variety of markets in Korea.