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Line Hunts for Acquisitions With $1.3 Billion IPO War Chest

  • The company has designated a team to review potential targets
  • Mobile messaging service aims to complete a ‘smart portal’
Takeshi Idezawa.

Takeshi Idezawa.

Phtoographer: Akio Kon/Bloomberg
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Line Corp. plans to use part of the $1.3 billion it garnered from last month’s initial public offering to bankroll acquisitions of content and technology, transforming its messaging service into a one-stop shop for Asian social media users.

Japan’s most popular messaging service is gunning for companies in areas ranging from artificial intelligence chatbots and advertising to video streaming and games, including those with augmented reality features, Chief Executive Officer Takeshi Idezawa said in an interview.