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SoftBank's Yahoo Japan, messaging app Line to merge by Oct. 2020
Original source: english.kyodonews.net
"We will become the strongest 'one team'" in the internet industry, Kentaro Kawabe, president of Z Holdings Corp., a group company of SoftBank Group Corp., said at a press conference.
Line President Takeshi Idezawa said the new entity will "lead the world from Japan as an artificial intelligence tech company."
The two companies will each spend 170 billion yen for the tender offer.
Yahoo Japan has expertise in online shopping operations and Line has a broad customer base for its messaging app services, while both are leading providers of smartphone payment services in Japan.
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