UPDATE 3-Rakuten to acquire Buy.com for $250 mln in US push

* Says to enter U.S. online market through acquisition

* Buy.com had revenue of $62.5 million in 2009
(Adds that Clearlake Capital is seller)

TOKYO, May 20 (BestGrowthStock) – Rakuten (4755.Q: ), a Japanese
online mall operator, said on Thursday it will acquire online
retailer Buy.com Inc for $250 million, in its first foray into
the U.S. market.

This year Rakuten announced a joint venture with China’s
top search engine, Baidu (BIDU.O: ), to launch a virtual shopping
mall targeting the world’s largest online population and has
said it is also looking at opportunities to enter European and
other markets. [ID:nTOE60Q09K].

Rakuten is buying Buy.com from New York-based investment
firm Clearlake Capital, the company said in a press release.

California-based Buy.com, which had revenue of $62.5
million in 2009, sells a wide range of products on the
Internet, Rakuten said in a statement.

Rakuten also runs operations in Taiwan and Thailand.

Rakuten, which also owns a stock brokerage, an online bank
and a professional Japanese baseball team, had an operating
profit of 56.6 billion yen ($617.6 million) in 2009, up 20
percent from a year earlier, on revenue of 298 billion yen.

Prior to the announcement, Rakuten shares ended down 0.8
percent, in line with a fall in the Jasdaq market (.JSD: ).

Stock Analysis

(Reporting by Taiga Uranaka; Additional reporting by Megan
Davies in New York; Editing by Edwina Gibbs and Steve

UPDATE 3-Rakuten to acquire Buy.com for $250 mln in US push