technology news Beijing time on September 9th evening news, Japan’s largest electricity supplier Lotte Company announced on Tuesday, will be $1 billion acquisition of the largest shopping rebate website Ebates Inc.
Ebates was founded in 1998, provides discounts and rebates for services including Amazon, Messi department store and home depot, customer. Lotte co-founder and CEO Miki Tanihiroshi (Hiroshi Mikitani) said that the acquisition of his company provides Ebates American customer opportunities.
the deal with Miki Tanihiroshi to reduce the local market dependent Lotte plans, although Japan Lotte business still accounts for about 90% of revenue, but because of Japan’s population decline and weak consumer spending, where growth prospects are limited.
recently conducted a series of high-profile overseas acquisitions, including the $900 million acquisition of free instant messaging application Viber, and $315 million acquisition of Canadian e-reader maker Kobo. Through these acquisitions, Miki Tanihiroshi is trying to let Lotte from a simple electricity supplier company transformed into a one-stop website similar to amazon.