Rakuten, a large Japanese Internet company, will acquire online marketer Buy.com for $250 million.
“As we evaluated how to accelerate our global expansion, it became clear that a partnership with Buy.com made perfect sense,”said Hiroshi Mikitani of Rakuten, in a statement. “As a company, Buy.com shares our vision for the future of ecommerce ] as a platform to give consumers the best value no matter their location, and to merge shopping with entertainment, and to help retailers build deep and lasting consumer relationships.”
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