Rakuten to acquire global video streaming service Viki

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Rakuten Inc on Monday announced that it has signed an agreement to acquire global video streaming platform Viki. The acquisition represents a significant step forward for Rakuten as it continues to add to its digital content offerings and launch its Internet services ecosystem into new markets.

Viki is a global TV and video site that uniquely brings primetime TV shows, movies, music videos and other premium video content to new audiences and opens up entirely new markets for content providers. Through its social TV and subtitling intellectual property, Viki’s community of viewers have crowdsourced subtitles in more than 160 languages and translated more than 400 million words to date.

Rakuten Chairman and CEO Hiroshi Mikitani said: “Viki is a one-of-a-kind company with an entirely unique approach to video streaming that is truly global and truly engaging. They are fast, agile, and highly mobile. Their smart and creative approach to bringing popular content to global audiences will enable Rakuten to move quickly into new markets around the world.

“There are a striking number of synergies and shared philosophies between our two businesses; the Viki model is built on a powerful community, focused on removing the language barriers that have traditionally trapped great content inside geographical borders. Since our foundation, Rakuten’s focus too has been to open up great services, content and goods to a global community. Viki is a perfect complement to Rakuten’s joint philosophies of Empowermentnand Shopping IS entertainment.”