Rakuten announced the much-rumored acquisition of US e-commerce company Ebates, which operates a number of shopping sites, for $1 billion this week, but it is far from done with efforts to expand in North America. The Japanese company has acquired smaller rivals in Western markets in the past — including Buy.com for $250 million in 2010, and Europe-based Play.com for $39 million in 2011 — and although its outlay on Ebates is far higher, it is one that the company actually sees as a bargain. “A billion-dollar deal is very strategic and smart in this case,” Yaz Iida, executive VP of Rakuten USA and senior executive officer…
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