Article: eBay Inc. Extends Leadership in Online Payments With Acquisition of Bill Me Later.

SAN JOSE, Calif. -- eBay Inc. (NASDAQ:EBAY) today announced that it has reached a definitive agreement to acquire Bill Me Later[R], the number two online-oriented payments brand, for approximately $820 million in cash and approximately $125 million worth of outstanding options, net of option exercise proceeds. The acquisition extends the company's leadership in payments by combining Bill Me Later with eBay's PayPal, the number one online-oriented payments brand. Subject to various closing conditions, the deal is expected to be completed by year-end.

"Bill Me Later is a perfect complement to our portfolio; PayPal and Bill Me Later belong together," said John Donahoe, eBay ...

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