eBay Completes Acquisition of Braintree
eBay (NASDAQ: EBAY) today announced it completed its previously
announced acquisition of Braintree, the innovative global payment
platform powering the next generation of leading online and mobile-first
startups. In accordance with the terms of the acquisition agreement
announced September 26, 2013, eBay acquired Braintree for total
consideration of approximately $800 million in cash.
Braintree will now operate as a separate service within PayPal under the
leadership of Braintree CEO Bill Ready, who will report to PayPal
President David Marcus and has joined PayPal's executive staff.
Braintree has become the payment platform of choice for next-generation
innovators like Airbnb, OpenTable, HotelTonight and Uber, transforming
consumer experiences through