EBay said Thursday that it was acquiring Braintree, a Chicago payments start-up, for $800 million in cash. The company plans to combine it with its payments division, PayPal.
Braintree provides technology to an impressive roster of companies to help them process payments on the Web and mobile devices. Its clients include Rovio, Uber, OpenTable, Fab, Airbnb, TaskRabbit and Heroku. Braintree, which says it processes more than $12 billion a year, has long been a start-up to watch. The company also owns Venmo, a popular application that lets people pay each other through text messages.
David Marcus, the president of PayPal, said that the company had been watching Braintree for some time now.