Friday, June 3, 2016

Deals wrap: eBay’s $2.4 billion GSI buy

Visitors chat next to the Ebay logo at the CeBIT computer fair in Hanover March 2, 2011. REUTERS/Tobias Schwarz EBay said it plans to buy e-commerce company GSI Commerce, which owns Web businesses such as the flash site Rue La La and ShopRunner, for $ 2.4 billion. Ebay said it will offer shareholders of GSI $ 29.25 per share, a 51 percent premium over its closing price on Friday.


Tabula announced $ 108 million in funding, one of the largest venture rounds in a decade for a chip company, writes VentureBeat’s Matt Marshall. The company says it can create programmable logic devices for $ 200, compared to a cost of more than $ 1,000 offered by competitors.


Despite soaring valuations of tech companies and warnings that the bust a decade ago may be repeated, there are notable differences between the dot-com boom and now, write Evelyn M. Rusli and Verne G. Kopytoff of the New York Times. Today, the stock market is not glutted with offerings and attractive tech start-ups like Groupon have real businesses — not just “eyeballs and clicks”. But, as cash continues to pile up, the fear is that all the money cannot be put to work responsibly, they add.


Well-known Canadian clothiers Le Chateau, Jacob and Reitmans could become takeover targets as a wave of U.S. retailers follows Target’s lead and seeks opportunities north of the border.



Unstructured Finance » DealZone



Deals wrap: eBay’s $2.4 billion GSI buy

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