Japanese Online Retail Giant Acquires Brazilian E-Commerce Company
Japanese online retail giantRakuten is expanding its reach to South America with the acquisition of a 75% stake in Ikeda, a provider of e-commerce services to many of Brazil’s largest retailers (Financial terms of the deal not disclosed yet).
Founded in 1997 and headquartered in Tokyo
Rakuten provides a variety of consumer and business-focused services including e-commerce, travel, banking, securities, credit card and e-money solutions.
Rakuten boasts operations throughout Asia, Western Europe and North America and has over 10,000 employees worldwide.
The company recently teamed up with Baidu to invest $50 million in an online ‘B2B2C’ shopping mall for Chinese Internet users, acquired Buy.com for $250 million and subsequently spent the exact same amount purchasing France’s PriceMinister.
Founded in 1996 and headquartered in São Paulo,
Ikeda provides retailers with a SaaS e-commerce platform
Enables its customers to help build their desired features
Provides advisory services to support customers' online retail operations.
Ikeda currently provides services to over 100 major retailers located all over Brazil.
Why this deal:
Forrester forecasts the e-commerce industry in Brazil to grow at 18% annually, with total sales expected to reach approximately $22 billion by 2016.
For Rakuten, it’s a way to expand into South America rapidly.