EBay Inc is going to sell its ticketing unit StubHub to ticket reseller Viagogo Ltd for $4.05 billion in cash, the companies said on Monday, nearly a year after the ecommerce major came under pressure from activist investors to hive off some of its businesses.
Activist investors Elliott Management Corp and Starboard Value had urged eBay to sell its ticket sales business and eBay Classifieds Group as part of a plan that could double the company’s value.
Elliott valued StubHub between $3.5 billion and $4.5 billion, while eBay Classifieds between $8 billion and $12 billion.
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