SAN JOSE, California ( TheStreet) -- eBay ( EBAY) said Monday it has agreed to acquire brands4friends, a Germany online shopping club, for $200 million in cash.

EBay said the move is designed to strengthen its position as a leading online fashion destination in Europe.

Brands4friends, which has about 3.5 million members in Germany, sells goods from fashion and lifestyle brands such as Calvin Klein at reduced prices to its members through daily specials, eBay said. The club is based in Berlin.

As part of the deal, eBay will assume brands4friends' equity interests in U.K. shopping club and Japan's

The acquisition is expected to close in the first quarter of 2011. EBay doesn't expect the deal to have a material impact on its 2011 financial results.

-- Written by Joseph Woelfel

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