eBay Acquires PayPal Inc.

October 4, 2002

eBay Inc. has completed its acquisition of online payments company PayPal Inc. in a stock-swap transaction valued at $1.5 billion. PayPal will operate as an independent brand out of Mountain View, California, while eBay replaces its Billpoint system with PayPal; PayPal CEO Peter Thiel resigned and will be succeeded by eBay's Matt Bannick.

Buyers
eBay Inc.
Targets
PayPal Inc.
Location
California, United States
Transaction Type
Buyout

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