Yahoo Japan announced that it will acquire telco eAccess from Internet provider Softbank. The transaction is valued at $3.2 billion (JPY324 billion), according to TechCrunch.

Yahoo Japan Chief Executive Officer (CEO) Manabu Miyasaka said: "We figured that we need to be a traditional operator to have a complete control over devices, plans and sales channels."

Under the terms of the said deal, Yahoo Japan will also acquire carrier E-Mobile, a subsidiary of eAccess. The carrier will be rebranded as Y! Mobile, the report stated.

Yahoo Japan, the biggest Internet portal in the country, is a joint investment of Yahoo and Softbank. The latter holds a 42.5% interest in Yahoo Japan, the report explained.

According to The New York Times, the acquisition of eAccess is designed to boost Yahoo Japan's e-commerce, online advertising, and digital content businesses. Yahoo Japan sought advice from Daiwa Securities and Mitsubishi UFJ Morgan Stanley on the transaction, the report added.