eBay Buys Bill Me Later

In a move to further consolidate control of online payment environments eBay has gone and bought the second largest player Bill Me Later for an all cash transaction of $820 Million.  This is significant because eBay already owns PayPal.  Obviously the company is doing this to realign their business by focussing on strengths because the news also comes with the announcement that eBay will layoff 10% of their global work force.

I find it funny that Bill Me Later which gives shoppers the option to defer payments has chosen to sell itself for an immediate all cash transaction.  How ironic.