Tokyo-based E-commerce Company Rakuten bought Majority Stakes in Ikeda

Tokyo-based company Rakuten announced on 7 June 2011 that it bought a majority stake in Brazilian e-commerce company Ikeda Internet. The acquisition of stakes in Ikeda adding added to the growing list of overseas deals inked by the Japanese online retailer, Rakuten. The latest acquisition marked the Tokyo-based company's entry into South America and a rapidly growing emerging market that is home to 40% of Latin America's Internet users.

Rakuten claimed that it acquired 75% stake in Ikeda which provides major Brazilian retailers with ecommerce platforms. The companies will share their expertise and create a unique and powerful approach for merchants to not only take advantage of the exciting ecommerce market in Brazil but also to expand their reach worldwide.

Rakuten is engaged in the e-commerce, credit payment, portal media, travel, and securities and sports businesses whereas Ikeda Internet