Ebay will acquire Rent.com, an online rental housing listing service, for $415 million in cash and stock, according to wire service reports.
The online auctioning operation expects this deal to lower its expected net earnings next year.
Rent.com expects to record more than $40 million in revenue this year.
“The Rent.com business model is an excellent fit with eBay,” said Rent.com CEO Scott Ingraham in a statement. “We are especially pleased that our customers will have the opportunity to benefit from the power of eBay and its community of users.”
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