It would seem that the marriage between Ebay and its Payment service Paypal is to coming to an end.
According to TechCrunch Paypal is to be spun off as a separate company and will no longer come under the Ebay umbrella.
The 12 year partnership will end amicably with Paypal becoming a public listed company with both companies getting new skippers.
Apparently this is a strategic move initiated by Ebay’s board of directors and is aimed at growing both companies within their respective markets.
This announcement should not come as a shock however with TechCrunch reporting that ‘this is a split that many, including activist investor Carl Icahn, have predicted or called for in the past’
The move is expected to go ahead later in 2015 and will see Paypal better placed to compete with other mobile payment services such as Apple Pay.