Japanese e-commerce company Rakuten said on Tuesday that it plans to acquire Canadian e-book and e-reader company Kobo in a bid to expand in the area of media downloads for consumers.
Rakuten in Tokyo said it has entered into a definitive agreement by which it intends to acquire 100 percent of the total issued and outstanding shares of Kobo for US$315 million in cash.
Spun out of Indigo, a book, gift, and specialty toy retailer in December, 2009, Kobo offers e-readers, e-reader apps and an e-book catalog. An acquisition by Rakuten will give Kobo access to Rakuten e-commerce businesses in a number of countries in Asia, Europe, and North America. ...
PCWorld 11/9/2011 [en]
- Rakuten has been aggressively acquired EC sites around the world, but it is the first acquisition of e-reader company. Rakuten seems to go head-to-head with Amazon.