eBay Inc. Agrees to Acquire Magento; Terms not Disclosed

eBay Inc. EBAY today announced that it has agreed to acquire Magento Inc., the creator of Magento. The deal follows eBay's acquisition of a minority stake in the company in 2010. Upon closing of the transaction, eBay will own 100 percent of the outstanding shares of Magento. Terms of the deal were not disclosed.