eBay Completes Acquisition of Braintree

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