Reginal Thomas
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Rakuten Buys Viber For $900 Million

Rakuten Inc. a Japanese e-commerce conglomerate controlled by Hiroshi Mikitani, has agreed to acquire Viber Media Inc. for $900 million. Viber Media is the company behind the popular call and messaging service app Viber. The deal will double Rakuten's number of users.

Rakuten provides services from financing to shopping to online video on its e-commerce platform. Mikitani is focused on reinventing Rakuten as a one stop site for a global audience as consumer spending at home shrinks.

Mikitani said, "This acquisition will take Rakuten to a different level... Developing this messaging system on our own would have been impossible"