Yahoo Japan to buy eAccess telecom firm for $3.2 bn

Mar 27, 2014
Internet giant Yahoo Japan said Thursday it would buy almost all of domestic telecom company eAccess from its parent Softbank Corp. in a deal valued at around $3.2 billion, or 324 billion yen

Internet giant Yahoo Japan said Thursday it would buy almost all of domestic telecom company eAccess from its parent Softbank Corp. in a deal valued at around $3.2 billion, or 324 billion yen.

Yahoo Japan, a unit of the Japanese mobile phone and Internet service company Softbank, said the deal was aimed at further growth in its Internet services through smartphones and tablets.

By acquiring 99.68 percent of the telecom company, Yahoo Japan would be able to integrate Internet and mobile businesses, it said in a statement.

"We will remain true to our two companies' DNA. We will continue to be wild and challenge the status quo," Yahoo Japan president Manabu Miyasaka said, quoted by Dow Jones Newswires.

He said details about what kinds of services and pricing plans the new company would roll out would be announced later.

The deal is scheduled to be completed in early June, when eAccess is set to merge with Willcom Inc., also a member of Softbank group.

Explore further: Japan's SoftBank says nine-month profit soars 58%

add to favorites email to friend print save as pdf

Related Stories

Japan's Softbank unloads Yahoo! shares

Aug 26, 2011

Japanese telecom giant Softbank on Friday said it was selling the bulk of its holdings in US Internet firm Yahoo! to Citibank in repayment of a 2004 loan.

Japan's SoftBank says nine-month profit soars 58%

Feb 12, 2014

SoftBank said Wednesday its nine-month net profit soared 58 percent thanks to strong iPhone sales, but third-quarter earnings suffered because of losses in its newly acquired Sprint Nextel unit.

Sprint to listen to Dish offer

May 21, 2013

Wireless company Sprint Nextel Corp. says it can now let Dish Network Corp. see its books and talk with Dish to see whether its competing offer to buy Sprint is better than its current deal with Japan's SoftBank.

Recommended for you

Why the Sony hack isn't big news in Japan

4 hours ago

Japan's biggest newspaper, Yomiuri Shimbun, featured a story about Sony Corp. on its website Friday. It wasn't about hacking. It was about the company's struggling tablet business.

Sony faces 4th ex-employee lawsuit over hack

9 hours ago

A former director of technology for Sony Pictures Entertainment has sued the company over the data breach that resulted in the online posting of his private financial and personal information.

Sony tells AFP it still plans movie release

10 hours ago

Sony Pictures boss Michael Lynton denied Friday the Hollywood studio has "caved" by canceling the release of "The Interview," and said it still hoped to release the controversial film.

2012 movie massacre hung over 'Interview' decision

23 hours ago

When a group claiming credit for the hacking of Sony Pictures Entertainment threated violence against theaters showing "The Interview" earlier this week, the fate of the movie's big-screen life was all but ...

Clooney slams skittish Hollywood after Sony hack

Dec 19, 2014

Film star George Clooney slammed the Hollywood movie industry for failing to stand up against the cyber threats that prompted Sony Pictures to cancel release of the movie "The Interview."

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.