eBay agrees to acquire Magento

Magento has reached an agreement to be acquired by eBay Inc., which is believed to open incredible opportunities for the entire Magento ecosystem. Have a look at the short video with Roy Rubin, Co-Founder of Magento, talking about the planned acquisition by eBay.

The past several years have been an amazing journey for Magento, as they have grown from a new open source platform into an eCommerce leader. Along the way, they have built an amazing eCommerce platform, a passionate company and a worldwide community. eBay’s planned acquisition of Magento marks a milestone on this journey.

eBay is evolving to become a strategic commerce partner focused on delivering new ways for merchants of all sizes to drive innovation. As a centerpiece of this strategy, they are building a global, open commerce platform that leverages the worldwide developer community. And Magento will be at the core of this new, open commerce platform, called “X.Commerce.”

As you may know, Magento and eBay have a bit of a history together – in March 2010, eBay became their first outside investor. Over the past year, eBay has gotten to know the platform, the culture, and the community. They have experienced the passion of the Magento ecosystem, and they are eager to harness the power of this ecosystem to create the next generation of eCommerce innovation.

But how will this acquisition impact the Magento organisation, customers and partners? Roy Rubin, Co-Founder of Magento, states “It’s too soon to know all the details, but there are a few things we know. Following the closing, Magento will continue to operate out of Los Angeles, with Yoav Kutner and me as its leaders. We’ll continue building our team and enhancing our product line, including the Magento Community, Enterprise, and Mobile Editions, as well as Magento Go and the Magento Go Platform. And we’ll continue strengthening our training, education, packaged consulting services and support efforts around the world.”

KPMG Crimsonwing looks forward to seeing the development of the X.Commerce platform and how the next generation of eCommerce innovation will be defined through this move.