eBay Inc., the San Jose, CA-based global commerce platform that connects buyers and sellers worldwide, announced on Monday that it plans to buy the online collectible exchange platform TCGplayer, an online marketplace for collecting trading card games, for about $295 million.

This latest acquisition complement eBay’s focus category strategy and the ecommerce firm’s strong commitment to trading card enthusiasts. TCGplayer’s current technology portfolio can provide eBay with strategic omnichannel capabilities like order fulfillment and cart optimization, which help eBay improve the overall user experience for all customers.

Under the signed agreement, TCGPlayer will continue operating independently and will continue to operate its Syracuse main office. Founder and CEO Chedy Hampson will continue to lead the firm, according to the company’s press release.

Founded in 1999 and based in Syracuse, New York, TCGplayer operates one of the largest digital marketplaces for trading card games. The company develops applications, inventory management tools, and machines that connect thousands of hobby stores and online sellers with customers and collectors around the globe.

“This new chapter allows us to continue operating independently within eBay, while also benefiting from their decades of industry experience and resources to deepen the connection between hobbyists and their communities,” CEO Chedy Hampson said in the released statement.

“With eBay’s support, we will advance our Purpose, and expand our tools and services to improve the collecting experience online and in your favorite local hobby store,” Hampson also added in the released statement.

The deal, which is still subject to regulatory approvals and customary closing conditions, is expected to close in the first quarter of 2023, according to TechCrunch.

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