Japan's messaging service Line scouts for acquisitions with $1.3b IPO war chest

Japan's messaging service Line scouts for acquisitions with $1.3b IPO war chest

The logo of free messaging app Line is pictured on a smartphone in this photo illustration taken in Tokyo in this September 23, 2014. REUTERS/TORU HANAI

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.

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