You are the news now

THE NEWS COMMENTER

Screenshot Reuters.com
VOTE  (0)  (0)

SoftBank to create $30 billion tech giant with Yahoo Japan, Line Corp merger


Added 11-18-19 06:03:02am EST - “Japan's SoftBank Corp plans to merge internet unit Yahoo Japan with messagi...” - Reuters.com

CLICK TO SHARE

Posted By TheNewsCommenter: From Reuters.com: “SoftBank to create $30 billion tech giant with Yahoo Japan, Line Corp merger”. Below is an excerpt from the article.

TOKYO (Reuters) - Japan’s SoftBank Corp plans to merge internet unit Yahoo Japan with messaging app operator Line Corp to create a $30 billion tech giant, as it strives better compete to with local rival Rakuten and U.S. tech powerhouses.

The deal, which would combine the providers of two of Japan’s top QR code payment services, offers SoftBank access to 164 million Line users and their data in Japan and Southeast Asia as it expands into services outside its core wireless business.

It also offers Line a deep-pocket patron who can offer its tech expertise, including potentially via the giant Vision Fund.

The deal comes as SoftBank Group founder Masayoshi Son battles to restore his reputation after a disastrous investment in office-sharing firm WeWork.

Telecoms firm SoftBank Corp said in a statement that Yahoo Japan, which last month changed its name to Z Holdings Corp, would aim to complete its merger with Line, owned by South Korea’s Naver Corp, in October 2020.

Read more...

Post a comment.

Anonymous comments are welcome, just check the "Comment Anonymously" box before submitting your comment. Note: Comments are free and open until someone ruins it. Don't dox, promote violence, etc. Be nice and have fun.

CLICK TO SHARE

COMMENTS VIA TWITTER






BACK TO THE HOME-PAGE