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eBay buys Rent.com

SAN JOSE, Calif., Dec. 17 (UPI) -- EBay of San Jose, Calif., said Friday it has agreed to acquire privately held Rent.com of Santa Monica, Calif.

EBay, which sells goods and services over the Internet, said it has agreed to acquire all outstanding securities of Rent.com for approximately $415 million.

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The acquisition amount will be paid with approximately $385 million in eBay common stock and $30 million in cash.

Rent.com is a leading Internet listing Web site in the apartment and rental housing industry.

The acquisition is expected to close in the first quarter of 2005.

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