Berlin: eBay Inc. says it will acquire a German online shopping club for $150 million to strengthen the company’s fashion business in Europe.
The US operator said Monday that the acquisition of Germany’s brands4friends, which is subject to regulatory approval, is expected to be closed in the first quarter of 2011.
eBay says brands4friends, founded in 2007, has some 3.5 million members and specializes in selling products from renowned fashion and lifestyle brands at reduced prices. Brands4friends employs about 200 people and is headquartered in Berlin.
eBay is based in San Jose, California.