(RTTNews) – Online marketplace EBay Inc. (EBAY: News ) is looking at acquisition opportunities in Japan and China to expand in the Asian markets, reports said. Asia is expected to become the growth engine in the coming years with around one-third of sales coming from there.
With China having a significant internet penetration, the potential for growth is believed to be exponential. At present, the e-commerce business in China is dominated by Alibaba Group and E-Commerce China Dangdang Inc.
The online auctioneer has been engaged in MA atcivity for some time now. Earlier this month, it completed the acquisition of Magento, Inc., the creator of open source ecommerce platform Magento, for undisclosed terms.
In the same month, the company completed the acquisition of Zong, a provider of payments through mobile carrier billing, for total consideration of around $240 million.
EBAY closed Tuesday’s regular trade at $30.95, up $0.46 or 1.51 percent, on 12.15 million shares.
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by RTT Staff Writer
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