Yahoo Japan and chat app Line agree to 50-50 merger
Yahoo Japan Corporation and chat app Line states on Monday that they have agreed to merge. The deal includes buying out Line Corp.’s minority shareholders, and the merger will require various clearances from authorities. The two Japanese tech giants plant to use the merger to leverage each other’s bases and expand online businesses. This includes shopping, payment services, and advertising-supported content. Line has reported that it has 82 million active monthly users, making it the dominant chat app in Japan. The parties hope to reach a final agreement next month.