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Play.com To be Sold

Play.com To be Sold

TOKYO & CAMBRIDGE, England, Sep 21, 2011 (BUSINESS WIRE) — Rakuten, Inc. (jasdaq:4755) and Play.com today announced that they have entered into a definitive agreement under which Rakuten will acquire UK e-commerce site Play.com for approximately 25 million pounds sterling (approx. 3.3 billion yen) in cash. The agreement has been approved by the board of directors of Rakuten.

The acquisition represents a significant step in Rakuten’s continued European and Global expansion and marks the company’s third acquisition in Europe, joining French e-commerce pioneer PriceMinister, acquired in 2010, and the rapidly expanding German online shopping mall, Tradoria, which joined the Rakuten Group in July of this year. Rakuten now operates e-commerce businesses in ten countries globally, including Japan

More info at Marketwatch.

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Stuart Davidson

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