EBay closes on acquisition of Certilogo as it looks to solidify apparel resale business
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EBay Inc. (NASDAQ:EBAY) announced on Tuesday that it has completed its acquisition of Certilogo. 
Milan-based Certilogo is described as a provider of AI-powered apparel and fashion goods digital IDs and authentication. The company is noted to leverage digital technology to empower brands and designers to manage the lifecycle of their garments. Certilogo will continue to be led by CEO Michele Casucci.
EBay (EBAY) said the Certilogo acquisition will further solidify itself as a trusted destination to shop for pre-loved apparel and fashion. The deal is also seen as marking a key investment in the growing pre-loved fashion category.
"Through this acquisition, eBay will be able to offer brands secure, connected product solutions that are both flexible and compatible. Brands will also be able to protect their customers from counterfeits and engage in recommerce through counterfeit-proof digital product passports," updated eBay Vice President Charis Marquez.
Financial details of the transaction were not disclosed.
Shares of eBay (EBAY) rose 0.46% in premarket trading on Tuesday to $45.78.
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