June 07, 2011 · 2 min read
eBay to acquire Magento
Cite have been using Magento, a leading open source software for a while. Why? Because it’s a seriously powerful e-commerce tool that allows us to deliver fantastic e-commerce sites for our clients with fully integrated payment systems, up selling capabilities, cross selling tools and lots more.
What we love about Magento is not only does it function brilliantly, delivering an extremely comprehensive e-commerce system, but our designers can also manipulate it to look amazing. So for a website where images are a big factor (say, for example, furniture sellers) we can use large images to show the finer details, or for jewellery e-commerce sites we can display several images and zoom functions that will show you the full glamour of the gem.
So it comes as no surprise that eBay wants to own this e-commerce software.
Ebay has just announced that it will acquire Magento within the next few months. The e-commerce giant has owned 49% of Magento for the past year and will buy out the remaining shares during the third quarter. The move will allow eBay to expand its portfolio of services to online merchants while upping the ante against its competitors.
Ebay plans to use Magento at the core of its soon-to-be released e-commerce platform, X.Commerce.
It will be interesting to see how this will change the way we pay for products online as eBay also owns PayPal and will naturally be pushing its own services over the Sage Pay payment gateway or WorldPay.
If you are interested in developing an e-commerce site of your own, give us a call at 0116 254 9888.
Find out more on one of our latest Magento sites, Diamonds & Rings.