EBay Buys German Online Auctioneer.
Web auction house eBay Inc has bought a three-month-old copycat
German firm, alando.de, for an undisclosed sum, marking the US online
auction pioneer's first acquisition in Europe. The firm already
has a UK site up and running. Despite the fact that alando only
launched in March, it already has 50,000 registered users to add to
eBay's 3.8 million, but it will have its brand name absorbed into
eBay shortly. eBay will find itself competing in Germany against UK
firm Quixell Ltd, which operates as QXL.com and already has French and
German language sites. eBay expects to take a one-time charge in
connection with the acquisition and says the transaction will be
dilutive for the remainder of the year. Further ventures into Europe
are expected this year.