Publication Date:
Tue, 2011-06-07 18:25
The deal Tuesday marks the Tokyo-based company’s entry into South America and a rapidly growing emerging market that is home to 40 percent of Latin America’s Internet users.
Rakuten says in a statement it acquired a 75 percent stake in Ikeda, which provides major Brazilian retailers with e-commerce platforms. It did not disclose the investment amount.
The latest deal follows several overseas purchases last year that underscore Rakuten’s global ambitions. It bought US online retailer Buy.com in May 2010 and French Internet shopping site PriceMinister S.A. in June.
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