EBay Inc. on Wednesday said it completed its acquisition of Magento Inc., which offers an open-source e-commerce platform, for an undisclosed price.
Magento Go, the Culver City company’s hosted software-as-a-service product, provides smaller merchants with online tools such as payment and inventory management. EBay, which acquired a minority stake in 2010, said Magento will become part of X.commerce, the San Jose online marketplace’s integrated open commerce platform group.
The Magento platform “serves tens of thousands of merchants worldwide and is supported by a global community of solution partners and third-party developers,” eBay said in a statement.
EBay did not disclose terms of the deal or say how many staff at Magento would stay with the company.
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