Norwegian firm Adevinta has won the auction for eBay's classified ads units with a nearly $9B bid.

Norwegian firm Adevinta has won the auction for eBay's classified ads units with a nearly $9B bid. Through the deal, Adevinta will reinforce their online advertising presence and eBay will quell concerns from activist investors.

“There is a relevant geographic overlap between the two businesses - for example in Germany, Italy, and the UK - but we think the acquisition could also be attractive to reinforce Adevinta’s position as a pan-European online classifieds player,” -Deutsche Bank Note