E-commerce giant eBay has entered an agreement to acquire TCGplayer, a collectible trading card marketplace based in the US.

As part of the agreement, eBay will buy TCGplayer for an approximate total deal value of up to $295m.

Initially a digital media company, TCGplayer has developed into an e-commerce platform for the collectibles industry.

The company develops applications, data management tools and technologies such as robotics automation for buyers and sellers.

It serves millions of hobbyist buyers, online sellers and brick-and-mortar retailers through the TCGplayer Marketplace and its Authentication Centre.

The acquisition will complement eBay’s focus category strategy and provide order fulfilment and cart optimisation among other strategic omnichannel capabilities.

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The deal is expected to close in the first quarter of next year subject to customary closing conditions being met, including all requisite regulatory approvals.

Following the acquisition, TCGplayer will continue to operate autonomously as one of the largest online marketplaces for trading card games.

eBay collectibles vice-president Dawn Block said: “eBay continues to build on our 26 years of experience in trading cards, powering local hobby stores and Main Street retailers to deliver an online destination that collectors love.

“eBay has always fuelled our customers’ passion in this space and facilitated connections between buyers and sellers, and with TCGplayer, we can enhance the customer experience across categories, forge even more relationships and cater to enthusiasts around the world.”

TCG founder and CEO Chedy Hampson said: “This new chapter allows us to continue operating independently within eBay, while also benefitting from their decades of industry experience and resources to deepen the connection between hobbyists and their communities.

“With eBay’s support, we will advance our purpose and expand our tools and services to improve the collecting experience online and in your favourite local hobby store.”

Freshfields Bruckhaus Deringer acted as legal counsel to eBay, while Evercore served as TCGplayer’s exclusive financial advisor.