eBay announced it has agreed to acquire privately held StubHub, a leading online marketplace for the resale of event tickets. According to eBay's press release, "the acquisition will enable eBay to expand its presence and offering in the online tickets segment, while allowing StubHub to continue to scale its business with the ecommerce expertise and resources of eBay."

eBay has agreed to purchase StubHub for an estimated aggregate value of approximately $310M, which will include the company's net cash as of the closing. The final amount will be determined at closing based on a formula and be payable in cash. This acquisition is subject to regulatory approval and approval of StubHub's stockholders, among other conditions, and is expected to close in the first quarter of 2007.

http://www.stubhub.com