eBay said today it is purchasing U.S. based online payments business Bill Me Later for approximately $820 million in cash and $125 million in outstanding options.
The company is also buying Denmark based online classified site dba.dk and vehicles site bilbasen.dk for $390 million in cash.
John Donahoe"We are making aggressive moves to strengthen our leadership positions in e-commerce and payments to competitively position our company for long-term growth," said John Donahoe, eBay Inc.'s president and chief executive officer. "
eBay said its workforce reduction is expected to incur restructuring charges of about $70 million to $80 million, primarily in the fourth quarter. The company says it expects to hit the low end of its third quarter revenue forecast of $2.1 billion to $2.15 billion and exceed the high end of its earnings forecast range of 39 cents to 41 cents per share, before items. eBay is scheduled to announce third quarter results on October 15.
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