Private multi-asset alternative investment firm Bain Capital announced that it has acquired the Japanese e-mail service business of US marketing solutions provider Cheetah Digital, according to an announcement.
Financial terms were undisclosed but the deal values the subsidiary company at around JPY30 billion ($278 million), per a report in AVCJ.
Cheetah Digital’s e-mail service provider, MailPublisher, distributes 6.1 billion e-mails on a monthly basis and is introduced to more than 5,300 companies in total.
Cheetah Digital is backed by technology-focused global private equity firm Vector Capital specialising in transformational investments.
“MailPublisher of Cheetah Digital has an exceptional functionality delivering a large volume of e-mails at high speed, with high security, and without delivery failure. Bain Capital will be providing active support for their further growth, including the expansion of new functions,” said Bain Capital Private Equity managing director Yuji Sugimoto.
Bain Capital invests across asset classes including credit, real estate, public equity, and venture capital, managing more than $105 billion in total.
The US investor recently has been reportedly collecting bids for Ooedo Onsen Monogatari, an operator of about 40 hot spring inns and resorts across Japan, with SoftBank Group Corp. and investment funds submitting first-round proposals. It is seeking to sell the Ooedo Onsen Monogatari group for more than 100 billion yen ($932 million), according to Bloomberg.