eBay completed its previously announced acquisition of Baazee.com and its subsidiary Baazee.com India Pvt. Ltd., the largest online marketplace in India, according to an eBay statement issued Tuesday.

In accordance with the terms of the transaction as announced on June 22, 2004, eBay is acquiring all outstanding shares of Baazee.com, Inc. for approximately $50 million (U.S.) in cash, plus acquisition costs. As previously stated, eBay does not expect the acquisition to have a material impact on 2004 net revenue and earnings per share, and does not expect it to affect its financial guidance as issued in connection with its second quarter earnings release on July 21, 2004.

Baazee.com India Pvt. Ltd is a subsidiary of Delaware based Baazee.com, Inc., and started its operations in India in January 2000. Headquartered in Mumbai, Baazee has 1 million confirmed registered users, according to eBay's announcement.