For $ 4.05 billion
EBay, is selling StubHub to the viagogo ticket seller
EBay is selling StubHub to the viagogo ticket seller for $ 4.05 billion in cash.
The transaction is part of a review that eBay conducted earlier this year following pressure from an activist investor. The company based in San Jose, California, said it was also reviewing options for its classified ads business.
EBay Inc. bought StubHub in 2007 for $ 310 million. Both StubHub and the classifieds business generated less than 10 of eBay's total revenue last year.
The incorporation of StubHub will allow viagogo to sell tickets in more than 70 countries and will give buyers access to a wider selection of tickets.
The founder and CEO of Viagogo, Eric Baker, is co-founder of StubHub. In a statement, Baker said it has long been his desire to unite the two companies.
The objective of the sale is to close at the end of the first quarter of 2020.