- eBay Inc (NASDAQ:EBAY) has signed a definitive agreement to acquire Certilogo, a provider of AI-powered apparel and fashion goods digital IDs and authentication. Financial details of the transaction were not disclosed.
- Certilogo’s platform uses digital technology to empower brands and designers to manage the lifecycle of their garments.
- Certilogo allows consumers to confirm authenticity, access reliable information about branded items.
- The acquisition further solidifies eBay as a trusted destination to shop for pre-loved apparel and fashion, and marks a key investment in the growing pre-loved fashion category.
- The transaction is expected to be closed in the third quarter.
- eBay held $5.0 billion in cash and equivalents as of March 31, 2023.
- Price Action: EBAY shares closed lower by 4.65% at $43.03 on Tuesday.
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