Ebay to sell enterprise unit

E-commerce company eBay said it was selling its enterprise business to a consortium led by private equity firm Permira for $925 million, as it streamlines its operations ahead of the separation from PayPal Holdings. The deal leaves eBay with its slow-growing marketplace business, which faces stiff competition from rivals such as Amazon.com. Analysts, however, were bullish on eBay's prospects as a standalone company.

EBay's enterprise business, the company's smallest, was formerly known as GSI Commerce. The business, which eBay purchased in 2011 for $2.4 billion, helps retailers strengthen their online presence and e-commerce capabilities.

The sale was announced alongside eBay's second-quarter results, where it reported a 7% jump in net revenue. Sales were driven by higher demand in the PayPal business. Based on proceeds from the enterprise business sale, the company recorded an impairment of goodwill of about $786 million.