EBay is getting out of the B2B business. The company confirmed reports that it is selling eBay Enterprise, its commerce and marketing division, to a group led by private equity firm Permira for $925 million.

In a statement, the company said it agreed to sell eBay Enterprise "to a consortium consisting of Sterling Partners, Longview Asset Management, and Innotrac Corporation, a Sterling Partners portfolio company, together in partnership with companies owned by the Permira Funds."

The announcement comes just one day before eBay is expected to complete its spinoff of PayPal into a standalone business.

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