Today PayPal Holdings. filed a Form 10 with the Securities and Exchange Commission (SEC). The Form 10 filing is an important step in eBay Inc.’s plan to separate eBay and PayPal into two independent, publicly-traded companies.

The separation of PayPal from eBay will provide strategic flexibility to set up each standalone company for success while preserving the synergies between the two companies and minimizing dis-synergies. We remain focused on setting up both businesses for long-term success, with greater strategic focus and flexibility to capitalize on their respective opportunities as global leaders in commerce and payments.

We believe the separation is on track to be completed in the second half of 2015.

For more information, view the full PayPal Form 10 on the SEC website.

*Reposted from eBay Inc.