News: eBay Completes Purchase of Shopping.com
August 30th, 2005 by Laurie BarakSource: San Francisco Business Times
[eBay Inc.] said it finished buying Shopping.com Ltd., a comparison shopping web site.
eBay of San Jose, CA, said on June 1 it would buy Shopping.com, of Brisbane, Australia for $634 million in cash. Shopping.com runs a searchable database of products and operates a separate unit called Epinions.com, at which consumers rate and review products and merchants.
Now Shopping.com’s listings will include items for sale on eBay’s site, where individuals and companies buy and sell products either in an auction or at a fixed price. eBay said it expects the acquisition to reduce its 2005 GAAP earnings per share due to incremental charges for stock-based compensation and the amortization of some acquired assets.
