SAN FRANCISCO (Reuters) - EBay Enterprise, once a business unit of eBay (EBAY.O), has completed its merger with global ecommerce company Innotrac to form a new private company named Radial.
Based in Pennsylvania, Radial provides technology and services for online retailers including payments, fulfillment, logistics and customer service, the company said on Tuesday.
The lion’s share of Radial is former eBay Enterprise technology and staff. eBay Enterprise had designed and operated online shopping sites for retailers until eBay sold it in July for $925 million to a consortium of private equity firms.
EBay Enterprise’s merger with Innotrac was planned at the time of the sale, and the two companies began integrating their businesses in November.
Radial is valued at more than $1 billion, calculated during the company’s financial review by the private equity firms that own it.
Reporting by Heather Somerville; Editing by Cynthia Osterman