-Ebay controls 26.25% in Intershop

Internet Business News
06-22-2011
-Ebay controls 26.25% in Intershop

INTERNET BUSINESS NEWS-(C)1995-2011 M2 COMMUNICATIONS

22 June 2011 - US online trader Ebay (NASDAQ:EBAY) acquired indirectly 26.25% in German e-commerce software provider Intershop Communications AG (ETR:ISH2) after it took control of Intershop's majority owner US GSI Commerce Solutions (NASDAQ:GSIC).
Ebay announced the USD 2.2bn acquisition of GSI in March but the acceptance period of the offer expired on 17 June 2011.

The strategic partnership with Ebay opens further growth chances for Intershop outside Europe, the company said in a statement on Tuesday.

The company wants to grow faster than before, especially in the non-European markets, Intershop's CFO Ludwig Lutter said. The firm is considering other equity partnerships, he added.

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