Magento will join X.Commerce, eBay’s integrated open commerce platform group designed to manage the company’s assets and partner technologies to build a developer community as a resource for merchants and retailers. eBay will own 100 percent of the outstanding shares of Magento.
Magento is an open-source commerce service which provides merchants with control over the user experience, catalogue, content and functionality of their online store. The company’s software-as-a-service service, dubbed Magento Go, delivers small and growing merchants online tools ranging from payments to inventory management.
In April 2011 , eBay has bought a majority stake in the Turkish auction website GittiGidiyor in a bid to expand its presence on the market.
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