Today eBay has confirmed their acquisition of StubHub in a press release. Earlier today I wrote about how eBay could make the announcement as early as tomorrow, but eBay clearly wanted to announce it sooner. eBay is going to buy StubHub for $285 million + $25 million (in StubHub books).
“StubHub has been extremely successful in the online tickets segment, and it’s a perfect complement to eBay’s tickets business,” stated Bill Cobb the president of eBay North America Marketplaces. “Together we can strengthen both businesses and provide fans with more choice and better service.”
The acquisition is expected to be fully completed by the end of the first quarter in 2007. Whether eBay will keep StubHub independent or not is still yet to be known.
