Softbank has agreed to buy a $627M stake in Indian online retailer Snapdeal, making it the largest investor in the e-commerce firm. "We believe India is at a turning point in its development and have confidence that India will grow strongly over the next decade," says Softbank (OTCPK:SFTBY) chairman and CEO Masayoshi Son. The deal aims to strengthen the Japanese telecom group's presence in India and leverage synergies with its network of Internet companies around the world.