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EBay to Buy Rent.com for $415 Million

IN BRIEF / TECHNOLOGY

December 18, 2004|From Bloomberg News

EBay Inc. agreed to buy privately held Rent.com for $415 million in one of at least three acquisitions of classified listings companies this year.

EBay will pay about $385 million in stock and $30 million in cash for Rent.com, a real-estate listing website, the San Jose-based company said. The transaction, which is expected to close in the first quarter, will probably decrease the company's 2005 earnings, EBay said.

EBay shares fell 95 cents to $114.75 on Nasdaq.

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