Internet Firms Spending Aggressively On M&A

Five major Japanese Internet firms spent about 68 billion yen ($806 million) on M&A deals and investments in venture businesses in the January-July period, more than triple the amount they did during all of last year, according to Nikkei. They are Rakuten, Softbbank, Cyber Agent, DeNA and Gree, using the money mainly to move into new sectors such as a social networking, and to expand overseas.