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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…

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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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