Dewey Reps EBay In Development Co. Magento Deal

Law360, New York (June 6, 2011, 3:32 PM EDT) -- EBay Inc. said Monday it had agreed to buy all remaining shares of open-source e-commerce platform maker Magento Inc. for an undisclosed price in an effort to amp up its development offerings for retailers.

The purchase follows eBay's acquisition last year of a 49 percent stake in Los Angeles-based Magento, which runs an open-source platform fueled by third-party developers that is used by tens of thousands of merchants around the world, according to the buyer.

The Magento platform will be a boon to retailers of all...
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