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Rakuten near to buying US cashback shopping site operator Ebates

Major online shopping mall operator Rakuten Inc. is finalising negotiations to acquire major US cashback shopping site operator Ebates Inc., informed sources said on Saturday.

Rakuten aims to expand its overseas operations, mainly in the United States, through the acquisition of Ebates, the sources said. The deal is estimated to exceed USD1 billion, the sources said.

Via Ebates, Rakuten hopes to lure overseas consumers to its website. Rakuten also believes that it can boost its recognition abroad and gather more data about users of other Internet shopping sites through Ebates, the sources said.

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