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Rakuten buys Ebates for USD 1 bln cash

Tuesday 9 September 2014 | 11:44 CET | News
Rakuten said it has agreed to acquire Ebates for a total of USD 1 billion in cash from shareholders August Capital Foundation Capital Management, and Canaan Partners. Rakuten said it will finance the buy from cash at hand as well as from either bank borrowings, or commercial papers and bonds. The transaction is expected to close next month. Ebates reported USD 2.2 billion worth of gross merchandise value (GMV) in 2013, with net revenues at USD 167.4 million and operating profit at USD 13.7 million. Rakuten said the deal is in line with its strategy and that it would use the acquisition to

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Categories: Internet
Companies: Rakuten Mobile
Countries: United States
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