NTT DoCoMo to acquire Austrian e-commerce provider
Japanese mobile operator NTT DoCoMo has today announced plans to acquire Austria’s fine trade, an e-commerce trading solution provider.
The acquisition is expected to expand DoCoMo’s portfolio of finance and payment platform businesses in Europe.
The transaction will be made through DoCoMo’s subsidiary, DoCoMo Deutschland (DDL), and is expected to close in late October this year.
“Fine trade is a unique and innovative player in the worlds of e- and m-commerce," said Hiroyuki Sato, CEO of DDL.
"I've long held the view that disruptive innovation is possible in the financial industry, much the same as mobile devices and the internet revolutionised the telecoms industry. DoCoMo, which has played a pioneering role in telecoms, looks forward to playing a disruptively innovative role with fine trade."
The acquisition is subject to regulatory approval by the German Federal Cartel Office, which DDL applied for yesterday.
The news follows reports earlier this year that NTT DoCoMo was looking to make more overseas acquisitions in 2013.