Play.com acquired by Rakuten for £25m
Online entertainment retailer Play.com is to be acquired by Rakuten for £25m, it has been announced.
The board of directors for Rakuten has approved the acquisition as it develops its European and Global expansion plans having acquired PriceMinster and online shopping mall Tradoria last year.
Hiroshi Mikitani, chairman and CEO of Rakuten, commented: “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.”