Korea’s NHN Buys Japanese Portal Livedoor For $68 Million
April 12, 2010 at 09:10 AM EDT
Big news from the Asian Internet industry today: Korea's web behemoth NHN has sealed a $68 million deal to acquire major Japanese Internet service provider Livedoor from parent company LDH Corp. (whose stakeholders include Morgan Stanley and Goldman Sachs). LDH also plans to pay a dividend of $32 million ahead of its sale to NHN. LDH's main asset is the eponymous portal service whose 30 million unique users per month make it one of the biggest in Japan (it's ranked No. 7 on Alexa Japan ). LDH, formerly known as Livedoor Holdings, delisted in April 2006 in the wake of an accounting fraud scandal . It's still embroiled in post-scandal lawsuits filed by Livedoor shareholders.