eBay to acquire ticketing firm StubHub
eBay is buying San Francisco-based StubHub, a sports ticket reseller, for an estimated $310 million.
Announcing the deal in a statement, eBay said the all-cash transaction is expected to close in the first quarter of 2007, subject to approvals by StubHub's shareholders and regulators. The deal includes StubHub's net cash at the time of the deal's closing.
Founded in 2000, StubHub is one of eBay's competitors. It had crossed $400 million in gross ticket sales in 2006. eBay had made an attempt to buy the firm in 2002 for around $20...
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