The e-commerce firm eBay has announced that it’s acquiring TCGPlayer for $295 million with the deal expected to close in Q1 2023. TCGPlayer is an online marketplace for trading cards including Magic, Yu-Gi-Oh!, Pokémon, Digimon and more.
According to eBay, TCGPlayer will continue operating autonomously. It said that the trading card sector is attractive and has experienced substantial growth. With the purchase, eBay wants ‘strategic omnichannel capabilities’ such as order fulfilment and cart optimization so that it remains a leading platform for people who buy trading cards.
Commenting on the deal, Dawn Block, VP of Collectibles at eBay, said:
“eBay continues to build on our 26 years of experience in trading cards, powering local hobby stores and Main Street retailers to deliver an online destination that collectors love. eBay has always fueled our customers' passion in this space and facilitated connections between buyers and sellers, and with TCGplayer, we can enhance the customer experience across categories, forge even more relationships, and cater to enthusiasts around the world.”
While the deal is expected to close in the first quarter of next year, it will have to pass certain closing conditions such as regulatory approvals. eBay’s stock is currently trading at $45.79, this is down from the $46.70 that it opened the trading day at.