eBay could soon sell its enterprise unit for $900 million

eBay is heading towards completion of a deal to sell its enterprise business to a consortium led by private equity firm Permira for nearly $900 million, reported the Wall Street journal. Announcement for the deal is likely to come on Thursday, along with the company's second-quarter results.

People with knowledge of the matter said earlier this month that private equity firm Thomas H. Lee Partners LP was looking forward to close the deal to buy eBay's enterprise unit for $1 billion. eBay said in January that it would look for options of a sale or public offering of the enterprise business.

eBay acquired GSI Commerce for $2.4 billion in 2011. Customers have moved away from the business which has caused a decline in the growth in the past few years.

Toys "R" Us Inc. gave a big setback to the company last week by making an announcement that it would take its US business in-house by mid-2016.

A person familiar with the matter has said that eBay has neared a $900 million deal to sell its enterprise business to a consortium led by the private equity firm Permira.

John Donahoe, eBay's chief executive, will step down from the position once the spinoff of PayPal is complete.