eBay to Sell Enterprise Services Business for $925 Million

eBay (EBAY) has confirmed reports that it will sell its enterprise services business to a group led by private equity firm Permira for $925 million. eBay paid 2.4 billion for the business back in 2011. The deal announcement comes the day before eBay will officially spin off PayPal. The payments arm recently acquired Xoom and its remittance business to boost its competition with Apple (AAPL) and Google (GOOG) Pay. The online marketplace giant posted earnings of $0.76 per share, beating estimates and up on last year's $0.70. Revenue came in lower than expected at $4.38 billion but was also up on last year's $4.10 billion. Analysts surveyed by Thompson Reuters predicted earnings of $0.72 and revenue of $4.49 Billion. Excluding the effect of the strong dollar the eBay marketplace grew 6 percent but gross merchandise value declined around 2 percent.