eBay to purchase Braintree for USD800 m

(MENAFN) California-based eBay has announced its plan of purchasing Braintree, an online and mobile payments technology provider, for USD800 million, according to Khaleej Times. The plan aims to improve eBay-owned PayPal services, especially its offline, mobile and online offerings to stores. Revenues of Braintree reaches USD100 million to USD150 million each year, said Janney Capital Markets analyst Shawn Milne. Milne said: "(The) addition of Braintree removes a growing competitor in the payment space while adding key talent and technology" to eBay.