Online auction site, EBay has acquired e-commerce provider Magento.

The moves signals a shift away from auctioning and towards online payments and e-commerce.

"eBay is evolving to become a strategic commerce partner focused on delivering new ways for merchants of all sizes to drive innovation. As a centerpiece of this strategy, they are building a global, open commerce platform that leverages the worldwide developer community. And Magento will be at the core of this new, open commerce platform, called 'X.Commerce,'" wrote Magento CEO Roy Rubin.