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SoftBank wields M&A to carve out foothold in growth markets

$91bn war chest provides fuel for industry shake-ups

Snapdeal and Flipkart are India's third-largest and top e-commerce companies.

TOKYO -- SoftBank Group's deal to combine Indian e-retail affiliate Snapdeal and local peer Flipkart is just one example of the Japanese technology giant's use of mergers and acquisitions to fortify its position in growing markets worldwide.

Snapdeal, SoftBank's biggest Indian investment, has lost ground in recent years amid the advance of American e-commerce behemoth SoftBank approached top Indian player Flipkart, which faces the same threat, and the two sides eventually reached an accord.

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