Play.com is bought by Japan's Rakuten Skip to main content

Play.com is bought by Japan's Rakuten

The UK online retailer Play.com has become the third European company to be taken over by Japan's e-commerce operator Rakuten.
Rakuten will pay £25m ($39.3m, 28.6m euros) for the company, which has 14 million registered users and is one of the largest in the UK.
The company said the purchase marked a "significant step" in its continued European and global expansion.
Play.com sells music, books, clothes and electronics.
The takeover follows Rakuten's acquisition of the French e-commerce pioneer Price Minister and the German online shopping mall, Tradoria.
Rakuten now operates e-commerce businesses in 10 countries around the world, including its operations in Japan.
The chairman and chief executive Rakuten, Hiroshi Mikitani, said the Play.com takeover was an important one: "The UK market is one of Europe's largest and most mature e-commerce markets.
"Play.com is not only a pioneer in the market, but also one of the UK's most successful e-commerce businesses."
According to industry research, the UK's e-commerce industry is the largest in Europe and is expected to exceed £37bn and have 55 million online users by 2014.
Rakuten provides a variety of consumer and business-focused services including e-commerce, travel, banking and securities and employs 10,000 people worldwide.

http://www.bbc.co.uk/news/business-15004271
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