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This excerpt taken from the EBAY 10-K filed Feb 28, 2007. VeriSign’s
Payment Gateway Business
On November 18, 2005, we acquired VeriSign’s payment
gateway business for a purchase price of approximately
$373.8 million, consisting of $370.0 million in cash
and $3.8 million in estimated acquisition-related expenses.
The payment gateway is a real-time, scalable Internet payment
platform that allows merchants to authorize, process and manage
online payments. Additionally, we have signed a multi-year
security technology agreement with VeriSign, Inc. that calls for
us to invest in the deployment of its technologies that enable
and better
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eBay
Inc.
NOTES TO
CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)
protect online transactions, including the purchase of up to one
million two-factor authentication tokens that we will distribute
to our customers.
We accounted for the acquisition as a taxable purchase
transaction and, accordingly, the purchase price has been
allocated to the tangible and intangible assets acquired and
liabilities assumed on the basis of their respective estimated
fair values on the acquisition date. The estimated useful
economic lives of the identifiable intangible assets acquired in
the acquisition are five years for registered user base and
existing technology and one year for the trade names.
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