Rakuten to acquirie Play.com for approximately £25M

Rakuten is acquiring UK e-commerce site Play.com for approximately £25 million in cash. The deal is expected to close early in October.

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.

Hiroshi Mikitani, Chairman and CEO of Rakuten, commented on the acquisition, “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 e-commerce strength and experience to further expand and develop Play.com’s business model and channel its loyal user base, merchants, and deep product offerings into Rakuten’s global e-commerce network.”

Japan, Tokyo and UK, Cambridge

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