Ebay buys GSI interactive marketing firm GSI Commerce for $2.4bn

Online auction company eBay has announced plans to acquire interactive marketing company GSI Commerce for $2.4bn.

The acquisition is eBay's biggest since the $2.6bn deal 2005 for Skype, which was sold off in 2009.

GSI handles the e-commerce activities for large retailers, including Toys R Us and Ralph Lauren.

The acquisition is aimed at reviving sales growth by resuscitating the company's traditional Marketplaces auction and e-commerce businesses, and diversifying the company's business, according to the Financial Times.

EBay will pay $29.25 a share for GSI Commerce, a premium of 51% over GSI's closing share price.