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EBay to sell its enterprise unit four years after buying it

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EBay has reached a deal to sell its enterprise unit, a division focused on building and running online shopping sites for bricks-and-mortar retailers, for less than half than it paid four years ago.

The $925 million deal, announced Thursday, will give control of eBay Enterprise to a group of private equity firms led by Sterling Partners and Permira Funds, eBay said in a press release.

EBay acquired its enterprise unit, then called GSI Commerce, in June 2011, for $2.4 billion. The unit has more than 500 customers, including Dick’s Sporting Goods, American Eagle Outfitters, Abercrombie & Fitch, PetSmart, Ikea and Major League Baseball. Many of those businesses compete for online sales with eBay itself.

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