eBay Bolsters Attractive Trading Cards Category Via This Acquisition - eBay (NASDAQ:EBAY)

eBay Inc EBAY has agreed to acquire TCGplayer, a marketplace for collectible card game enthusiasts, for a total deal value of up to $295 million.
The acquisition complements eBay's focus category strategy and provides strategic omnichannel capabilities like order fulfillment and cart optimization.
TCGplayer employs more than 600 team members, serving millions of hobbyist buyers and tens of thousands of online sellers and brick-and-mortar retailers through the TCGplayer Marketplace and its Authentication Center.
EBAY expects the deal to close in Q1 2023.
"This new chapter allows us to continue operating independently within eBay, while also benefiting from their decades of industry experience and resources to deepen the connection between hobbyists and their communities," said Chedy Hampson, Founder, and CEO of TCGplayer.
eBay held ~$5 billion in cash and equivalents as of June 30, 2022.
Price Action: EBAY shares are trading lower by 2.83% at $45.74 on the last check Monday.
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