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Internet auction site eBay announce today that it will acquire ecommerce platform provider and online marketer GSI commerce for $2.4 billion.
As part of the transaction, eBay said it will divest GSI's licensed sports merchandise business - which includes newly acquired Fanatics - and 70% of ShopRunner and luxury flash sales site Rue La La. eBay believes these businesses are not core to its long-term growth strategy. Those assets will be sold to a newly formed holding company, which will be led by GSI founder and CEO Michael Rubin.
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