Japanese mobile operator KDDI is set to buy an 85.5% stake in CDNetworks, a South Korean provider of high-speed data communications services, for up to Y12.8bn (US$167m), according to reports citing a Kyodo News article.
KDDI was quoted saying that this…
Japanese mobile operator KDDI is set to buy an 85.5% stake in CDNetworks, a South Korean provider of high-speed data communications services, for up to Y12.8bn (US$167m), according to reports citing a Kyodo News article.
KDDI was quoted saying that this transaction will allow mobile phone users to have smooth internet access in the face of increasing mobile data traffic.
KDDI and CDNetworks were not immediately available for comment.
KDDI has been acquisitive of late. In June, it was reported that the company was set to acquire the remaining outstanding shares in internet payments company WebMoney.
Before that, in February, KDDI confirmed it would buy 76% of Taiwan-based digital music service provider KKBOX from Skysoft, which holds 100% of the company.
