DoCoMo Acquires 71.28% Of Online Fashion Retailer MAGASeek For $22 Million

Posted on Mar 15 2013 - 3:04pm by Karan Chopra

Magaseek

NTT DoCoMo announced today that it has secured 71.28% (or 15,105 shares) of online fashion retailer MAGASeek for the sum of 2.04 billion yen (about $22 million) through a public tender offer although MAGASeek‘s parent company ITOCHU will continue to hold 5,298 shares, or 25% of MAGASeek’s total share. DoCoMo do have a plan to acquire all the remaining shares too of MAGASeek, while MAGASeek will become a consolidated subsidiary of DoCoMo once the tender offer is settled on March 21.

DoCoMo explains on how the new acquisition will help broaden its content offering: 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.

About the Author

Karan Chopra, CEO at G2One Network An Internet Media Company), Founder at 99DollarWebsite and Editor/Writer at I2Mag, JustWP.org, CodeAndMe.net, TechEXplained.org, JustInfo.Graphics, HowToWebDesign.org, NextBigProduct and WPLove.co. Karan is an internet enthusiast, who loves to explore every second thing in both technology and business. You can find him on Facebook , Twitter and Google+.