SYRACUSE, N.Y. — eBay Inc. (NASDAQ: EBAY) on Monday announced an agreement to acquire Syracuse–based TCGplayer.
The deal has a total value of about $295 million, per eBay’s announcement. The deal is subject to customary closing conditions, including requisite regulatory approvals, and is expected to close in the first quarter of 2023.
Based in San Jose, California, eBay is an e-commerce company that says it “connects millions of buyers and sellers around the world,” while TCGplayer is a marketplace for collectible-card game enthusiasts.
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TCGplayer operates at 440 S. Warren St. in Syracuse.
In its announcement, eBay says trading cards are an “attractive category, which has seen substantial growth.” It describes TCGplayer as a leading technology platform for the collectibles industry, which will continue to “operate autonomously” as one of the largest online marketplaces for trading card games.
The acquisition complements eBay’s focus category strategy and furthers the company’s commitment to trading-card enthusiasts — providing eBay with “strategic omnichannel capabilities” like order fulfillment and cart optimization, “maintaining its position as a desirable platform for trading card sellers, and enhancing the overall experience for all customers,” per its announcement.
“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,” Dawn Block, VP of collectibles at eBay, said. “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.”
In a separate statement, Chedy Hampson, founder and CEO of TCGplayer, said his company plans to “join forces” with eBay.
“Unlike a traditional acquisition, upon close, TCGplayer will continue operating independently,” Hampson said. “We will have the autonomy and flexibility to continue running TCGplayer just as we always have, and I will continue to lead the company as CEO, ensuring our commitment to [customers] and the entire collectibles community remains enshrined and protected long into the future.”
He went on to say that as part of the transaction, all 688 TCGplayer employees — hourly and salaried — will “share in the financial rewards of this deal” as a result of the firm’s employee stock option plan.
