eBay is set to expand its presence in Japan with the acquisition of Giosis’ Japan business, which includes eCommerce platform Qoo10.jp. The terms of the deal are undisclosed.

eBay is currently an investor of in Giosis Pte., which runs localised marketplaces across Asia like Qoo10.jp. The deal will see eBay relinquish is investment in Giosis’ non-Japanese assets.

“The acquisition of Giosis’ Japan business significantly expands eBay’s footprint in Japan, one of the largest eCommerce markets in the world.  Building on the strength of the Qoo10.jp platform, we will be able to offer Japanese consumers more inventory from around the world,” said Devin Wenig, president and CEO of eBay Inc.  “With the Qoo10.jp platform, we also will be able to serve a new and growing user base as well as broaden our presence in a dynamic, underpenetrated market with strong e-commerce potential and high mobile adoption.”

As part of the acquisition, eBay’s Japan business – which will house Giosis’ Japan business – will report to eBay’s Asia Pacific senior vice president, Jooman Park. The acquisition is expected to close in the second quarter of 2018.