Online retailer Play.com has been taken over by Rakuten, the largest online retailer in Japan, in a deal worth £25 million.

Rakuten chairman and CEO Hiroshi Mikitani said: "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.

"We aim to leverage our strength and experience to further expand and develop Play.com's business model and channel its loyal userbase, merchants, and deep product offerings into Rakuten's global e-commerce network."

Source: http://www.next-gen.biz/news/playcom-sold-%C2%A325-million

Posted: Sep 21, 2011 11:55 am