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Business

KDDI to buy low-cost 'internet of things' services startup

Mobile carrier broadens base in field via Soracom purchase

KDDI has struggled to stem the decline of its mainstay mobile services as the popularization of smartphones runs its course.

TOKYO -- KDDI will move into the low-cost sphere of "internet of things" services by purchasing Soracom, a mobile virtual network operator.

The Japanese mobile carrier is expected to acquire all outstanding shares in the Tokyo-based startup by the end of August for an estimated 20 billion yen ($181 million).

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