eBay has moved to acquire Los Angeles based Magento in order to boost its e-commerce developer tools.
Magento offers an open source e-commerce platform that developers use to create their own online e-commerce stores. Magento’s program is flexible enough to allow developers to control the user experience, catalog, content and functionality of their online stores.
The acquisition, which is expected to close during the third quarter of 2011, comes after eBay purchased a minority share in the company last year.
According to eBay, Magento, which caters to tens of thousands of developers, will continue to support its customers and will work on eBay’s X.Commerce platform side-by-side. Magento said that it will be operating separately from its Los Angeles office while eBay works towards integrating its platform with X.Commerce.
“Technology-driven innovation is blurring the lines between online and offline commerce, changing the way consumers shop, and enabling retailers of all sizes to benefit from the latest innovations from the developer community,” said John Donahoe, President and Chief Executive Officer of eBay, GigaOm reports.
“The feedback we’ve heard from external developers has been clear — they don't just want payments or an ecommerce site; they want access to a full set of commerce capabilities to build complete shopping experiences for merchants."