Mergers and Acquistions News
Categories: Media & Information Services, Software
June 24th 2010, 11:59AM
Web-based shopping site eBay has agreed and completed the acquisition of the software company RedLaser, it has been reported.
Under the terms of the deal, eBay will acquire the firm which makes a barcode-scanning application for iPhones and the related technology from Occipital.
So far financial terms are still undisclosed, but with RedLaser reporting over two million downloads, it is thought to be substantial.
Mark Carges, chief technology officer and senior vice president of global products at eBay Marketplaces, said: "With RedLaser's innovative technology, eBay is continuing to help shoppers quickly find the best deals online and eBay sellers will be able to list their items faster."
The RedLaser app will now be free and will be integrated into eBay's own applications such as eBay Selling and eBay marketplace.
eBay's acquisition of RedLaser is one of a long line of purchases by the company which includes the $2.6 billion (£1.7 billion) buy-out of VoIP business Skype in 2005.
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