With the big spin-off happening on Monday, it is easy to forget about eBay’s Enterprise unit. Private equity hasn’t forgotten though, and during its earnings call today, eBay announced that it has officially found a buyer for the struggling unit.
According to reports, a consortium of buyers including Sterling Partners and Permira Funds will pick up the business for $925 million.
If the sources are correct, the final details were still being ironed out last night (July 15) and were made public in concert with eBay’s Q2 results. The news comes as the eBay/PayPal disillusion finished off internally on Friday.