05:25
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On Wednesday, Rakuten, Inc. and Kobo Inc.announced a major deal in the splendid and thriving world of ebooks.
The partners have entered into a definitive agreement that allows Rakuten to acquire 100% of total issued and outstanding shares of Kobo. The deal is valued at $315 million.
Kobo executives say the company will continue to maintain its headquarters in the United States.
Kobo, which was founded two years ago by Indigo – the largest book, gift and specialty toy retailer in Canada – has become a major competitor in the eBook marketplace. Kobo boasts of a long line of eReaders, eReading apps, one of the largest eBook catalogues, and retail partners around the globe.
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