TOKYO (AP) — Rakuten Inc. says it has bought a majority stake in German e-commerce company Tradoria, strengthening the Japanese online retailer’s foothold in Europe.
The acquisition adds to the Tokyo-based company’s growing list of overseas deals in an aggressive drive to expand globally.
Rakuten said Thursday it bought an 80 percent stake in Tradoria, which offers an e-commerce platform for small and mid-size merchants. It did not reveal how much it paid.
Germany has the biggest online population in Europe, and its e-commerce industry is expected to exceed euros 37 billion ($53 billion) in 2014, according to Rakuten.