Magento has reached an agreement to be acquired by eBay Inc. which previously had a 49 percent stake of shares, in a bid to build a broader commerce operating system that spans online, mobile, social and local. eBay will own 100 percent of the outstanding shares of Magento. Terms of the deal were not disclosed. Magento believe this move will open incredible opportunities for the entire Magento ecosystem.

eBay is evolving to become a strategic commerce partner focused on delivering new ways for merchants of all sizes to drive innovation. It expects the acquisition and the open commerce X.Commerce group will allow it to provide services for merchants and retailers beyond payments and websites. Magento will be at the core of this new, open commerce platform, called “X.Commerce.”

X.Commerce, an open platform that can offer a wide array of end-to-end services to merchants, providing everything from local inventory data and discounts to historical information on pricing, transactions and browsing. It then offers tools for payment and helps close the loop on transactions so retailers know how it all came together. More details will be shared with developers during the X.Commerce Innovate conference on Oct. 12-13 in San Francisco.

From the eBay press release: “We believe the acquisition of Magento and creation of our X.Commerce group will enable us to meet developers’ needs and drive global commerce innovation for retailers and consumers.” It’s a necessary step and a sign of how the world of commerce, online and offline, is all coming together.

We make it easier to integrate Magento’s open source shopping solutions and design integration to online retailers. For further clarifications please click here to contact our sales team for further information.

eBay revealed at their latest analyst day that it owns a 49% stake in Magento and their invest $22.5 million one year ago. Magento announced back in March 2010 about the investment in a blog post without revealing the identity of the investor. eBay officially confirmed that they invested $22.5m in Magento in return for a 49 per cent stake in the four-year-old company on Thursday and caught many by surprise.

Magento’s accomplishments over a very short period of time are astonishing, but not surprising. Magento has become the fastest growing eCommerce platform in the world, and is poised to become the largest open source software company as well. Magento provides just that – a platform that we can leverage strategically to help our clients in the difficult process of continually moving that needle.

eBay’s commitment to Magento aim to be the premier marketplace and payment provider on the Internet, but it makes sense. “ We are fortunate to have a partner that supports our strong belief in open source, community and innovation, Magento controls the remaining 51% of the company, so Magento’s operations would remain mostly independent from eBay says, Magento co-founder and CEO Roy Rubin . By investing in Magento which is one of the premier ecommerce solutions available they are cementing their position in wider online retail than marketplace business. EBay Inc. chief technology officer Mark Carges said “Combined with the power of our platform innovations, we can offer retailers an unmatched advantage as an e-commerce partner, We view our platform assets as enablers, not just for our business but for other retailers.”

We make it easier to integrate Magento’s open source shopping solutions and design integration to online retailers. For further clarifications please click here to contact our sales team for further information.