eBay, PBL building Australian auction site

Internet auction house eBay said on Tuesday it has teamed up with Australian company PBL Online to offer a localised version of the US vendor's popular auction service to users in Australia and New Zealand.

Under the terms of the agreement, the two companies later this year will launch a site that is customised for users in Australia and New Zealand.

The partners did not disclose their specific plans nor terms of the agreement. The deal is eBay's first international venture.

Founded in 1995, San Jose, California-based eBay offers person-to-person auctions of more than 1.5 million items including books, computers and dolls. PBL Online is a unit of media powerhouse Publishing and Broadcasting, based in Sydney.

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