eBay Acquires AI-Based Marketplace Compliance Solutions Provider 3PM Shield For Undisclosed Sum - eBay (NASDAQ:EBAY)

eBay Inc EBAY has acquired 3PM Shield LLC, a provider of advanced AI-based marketplace compliance solutions. Financial details of the transaction were not disclosed.
The deal enhances eBay's monitoring solutions with new technologies designed to prevent the sale of counterfeit items, unsafe products and illegal goods.
3PM Shield will boost eBay's ability to address suspicious or harmful seller behavior, and potentially problematic items.
eBay has acquired 3PM Shield, also known as 3PM Solutions, and the deal has closed as of Feb. 9, 2023.
"It is a top priority to help ensure that eBay remains a safe and trusted environment for our global community of sellers and buyers, particularly to prevent counterfeits and unsafe or illegal products," said chief risk officer Zhi Zhou.
The company's cash and cash equivalents and non-equity investments portfolio totaled $4.8 billion as of Sept. 30, 2022.
Price Action: EBAY shares are trading higher by 1.64% at $48.87 on the last check Monday.