Yahoo and LINE to agree on management integration November 18th 0:00
Softbank Group IT giant Yahoo and communications app giant LINE are expected to reach an agreement on management integration on the 18th. A huge group that handles SNS and online shopping will be born, which will have a major impact on the strategies of other IT companies.
Yahoo's holding companies, Z Holdings and LINE, have been negotiating for management integration with their parent company Softbank, a Korean IT company, and neighbors.
According to the officials, the agreement reached in the past so far, it is expected that both sides will formally make a decision by holding a board meeting on the 18th.
SOFTBANK and Naver will establish 50% of each other to establish a new company, and Z Holdings will be put under its umbrella to make Yahoo and LINE subsidiaries.
In addition to Kentaro Kawamata, CEO of Z Holdings, LINE's Takeshi Dezawa CEO will be appointed as the CEO of Z Holdings.
Yahoo has about 50 million users who handle search and news distribution.
On the other hand, LINE, which has overwhelming strength in communication applications, has about 82 million users in Japan alone, and if integrated, it is a huge group that handles various Internet services such as search, SNS, online shopping, finance, etc. Will be born.
For Yahoo, after investing 400 billion yen and acquiring ZOZO, a fashion mail-order site, it will be a reorganization and will have a major impact on the strategies of other IT companies.
If the agreement is reached, the two companies will hold a press conference to explain the purpose of the integration.