Dive Summary:
- Japan's NTT DoCoMo, which holds around 50% of the country's market share, announced its acquisition of online fashion retailer Magaseek for 2.04 billion yen (around $22 million), marking an expansion of its e-commerce business.
- A public tender offer for the startup was announced by DoCoMo in January, and the operator now holds 71% stake, or 15,105 shares.
- As of March 21, Magaseek will become a consolidated subsidiary of the operator, which also previously expressed interest in collaborating with the startup's former owners, Itochu, on the new service being built from the acquisition.
From the article:
... The announcement from DoCoMo explains that the new acquisition will help broaden its content offering, with a particular focus on female consumers:
Magaseek, one of Japan’s leading websites for fashion goods, has a considerable user base, mainly female customers in their 20s and 30s. DoCoMo expects to realize synergies in customer satisfaction and shopping convenience by linking Magaseek’s services with DoCoMo’s 60 million customers, cloud services and business expertise. ...
