eBay has announced it will acquire online ticket re-seller StubHub for $310 million cash.

“StubHub has been extremely successful in the online tickets segment, and it’s a perfect complement to eBay’s tickets business,” said eBay’s Bill Cobb.

This acquisition – which is subject to regulatory approval and approval of StubHub’s stockholders, among other conditions – is expected to close in the first quarter of 2007.

“StubHub’s business model is an excellent fit with eBay, a company we’ve admired for a long time,” said StubHub CEO and Founder, Jeff Fluhr.

StubHub was launched in 2000 and is a San Francisco based company.

Posted: 01|17|07 at 10:24 am. Filed under: Auction News.