EBay acquires Certilogo in deal to boost AI-powered digital ID technology
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EBay Inc. (NASDAQ:EBAY) announced on Wednesday that it struck a deal to acquire digital AI technology firm Certilogo for an undisclosed amount.
Certilogo is described as a provider of AI-powered apparel and fashion goods digital IDs and authentication. The company's platform is noted to use digital technology to empower brands and designers to manage the lifecycle of their garments, while providing consumers a seamless way to confirm authenticity, access reliable information about branded items, and easily activate circular services. 
EBay (EBAY) said the Certilogo acquisition will further solidifies itself as a trusted destination to shop for pre-loved apparel and fashion. The deal is also seen marking a key investment in the growing pre-loved fashion category. 
The closing of the Certilogo deal is subject to the satisfaction of customary conditions, including regulatory approvals, and is expected to occur in the third quarter.
Shares of eBay (EBAY) moved up 0.59% in premarket trading on Wednesday.
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