Boston, MA, 02/27/2014 (usastockreport) – Yahoo! Inc. (NASDAQ:YHOO) Japan has agreed to buy eAccess Ltd. (Mobile and broadband provider) for the price of $3.2 billion from its parent company SoftBank Corp. This move from Yahoo! will help the company in expanding its services to tablets and Smartphone.
A new service “Y!mobile” will be started by the Yahoo Japan. The company shares it phone networks with SoftBank who owns 42.5% stake in Yahoo! Japan. Once the merger of eAccess with Willcom Inc. is completed, the transaction will take place. SoftBank, eAccess and Willcom Inc. all these companies are owned by corporate baron Masayoshi Son.
The 99.7% of eAccess stock will be purchased by the Yahoo! Japan which amounts to 33.3 percent of the voting shares. This was declared in a statement today by Yahoo! Japan. The 66.7% voting rights were distributed among 11 other companies. SoftBank, last year took control of the Sprint Corp. US, after paying hefty sum of about $22 billion. The SoftBank is aiming to expand its customer base in Japan and in this pursuit it acquired the eAcess in 2012.
Further Yahoo! Japan is trying to expand its base in Japan so that maximum profit can be earned. It has set target to increase in its earnings by 77% in next six years. It has proper plan placed to increase its e-commerce business and proving more service to tablets and smartphone users. As this is becoming order of the day and desktop and laptops are making ways for tablet and smartphones. So companies are looking ways and means to attract these users.
Yahoo! Inc. (NASDAQ:YHOO) is making good progress is Asia region due to its well thought plan and through the strategic partnership with the local companies. We hope the company which provided many people their first email ID will continue to grow in the coming years.