The two firms will become independent publicly traded companies in 2015. The move follows pressure from investor Carl Icahn to spin off the payments ...
In a move that gives eBay more internal options to offer its auction users a turnkey e-commerce platform, the company is acquiring the assets Kurant Corp., a developer of web storefront applications.
In a move that gives eBay Inc. more internal options to offer its auction users a turnkey e-commerce platform, the company is acquiring the assets of Kurant Corp., a developer of web storefront applications.
Terms of the deal, which eBay announced today, weren’t disclosed, but eBay is acquiring San Franciso-based Kurant in large measure because of the company’s established technology. Kurant develops and markets four versions of StoreSense, a turnkey e-commerce platform that includes a storefront and shopping cart and gives merchants the ability to link to various third-party market sites such as eBay.
Kurant also markets StoreSense through a large network of resellers, including joint sales and marketing agreements with Sun Microsystems/Cobalt Networks, Homestead Technologies, and Paymentech.
EBay, which is acquiring all of Kurant’s technology assets, expects the deal to close later this quarter. EBay also expects to hire most of Kurant’s existing employees.
With Kurant, PayPal, its payments processing arm, and eBayStores, its storefront program for merchants, eBay is now in a position to offers its users an improved and more turnkey e-commerce platform. “This is probably mostly a technology deal,” says Scot Wingo, CEO of ChannelAdvisor Corp. and author of “eBay Strategies: 10 Proven Methods to Maximize Your eBay Business.” ”They had a chance to pick some good technology at a good price since Kurant’s technology integrates well with other applications such as QuickBooks.”