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ebay is leaving enterprise behind

Scene Last Night: Blankfein,   Robertson,   Wurth,   Thomas H. Lee

eBay officially announced that it would be selling its enterprise business to a consortium of buyers led by private equity firm Permira in a $925 million deal. According to analysts, the sell-off is likely a way for eBay to get rid of unnecessary burdens ahead of its divorce with PayPal – a separation set for Friday (July 17), and to be finalized over the weekend when on Monday, PayPal will begin trading on its own…


Earlier this week Reuters reported that Thomas H. Lee Partners LP was in “advanced talks” to acquire the assets for as much as $1 billion, according to unnamed sources. They added that while Thomas H. Lee outbid competing offers, discussions had reached a standstill over pricing disagreements. It was not immediately clear whether Thomas H. Lee remains a part of the deal, which includes Sterling Partners, Longview Asset Management and Sterling Partners portfolio company, Innotrac Corporation…

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