eBay buys PayPal system for 800 million dollars

Internet auction site Ebay Inc buys Braintree payment system for about $ 800 million to strengthen the position he owns PayPal on mobile devices, on the one hand, and the elimination of a competitor gaining momentum - on the other, writes Reuters.
The company said that the transaction is expected to close late in the fourth quarter. She estimated the negative effect of it in 1-cent adjusted earnings for 2013.
Buy Braintree allow eBay to access the application Venmo, through which consumers can pay with smartphones and tablets - eBay wants more participation in the sector.
PayPal, the main provider of online payments, with 120 million users, has dominated the market for nearly a decade, but in recent years, growth has slowed, primarily due to competition from smaller but more nimble companies successfully implement their technology on mobile devices.
"We believe that this transaction is a strategic sense, because it broadens the spread of PayPal and removes a competitor," - said RBC Capital Markets analyst Mark Meyheni.
Shares of eBay, which received 40% of last year's revenue through PayPal, showed on Thursday, rising to 4.4%.
Hill Ferguson, vice president of Global Product eBay, do not rule out the possibility that the company will make other purchases to expand its presence in the mobile payment system rynke.ShA