Top News Acquisition By Japanese Firm Completes

The acquisition of Aliso Viejo-based by Japanese ecommerce firm Rakuten has completed, according to Rakuten. The firm, which said it would pay $250M for in May, said the all-cash deal closed as of July 1st. The firm said will remain headquartered in Aliso Viejo, under its existing executive management team and staff. The firm's first major move, post-acquisition was yesterday's announcement of an extension of its return policy to 45 days, up from the usual 30 days; the firm said it is specifically looking to challenge Amazon, Best Buy, Barnes & Noble, NewEgg and others with that move.





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