In a move that could help eBay improve its tools for online store developers, it has acquired Magento, the maker of an open source e-commerce platform.

The online auctioneer last year acquired a minority stake in Magento, which is based in Los Angeles and has about 290 employees and tens of thousands of merchant customers.

The deal is expected to close in this year's third quarter. The plan is for Magento to remain in Los Angeles and continue supporting its partners and customers, as well as keep developing its product roadmap, while leveraging eBay's additional resources and helping eBay develop X.Commerce, according to an FAQ about the deal (PDF) Magento posted on its site. Read more...