Kobo Acquired by Japan’s Rakuten for $315 Million

By Jason Boog 

The Japanese Internet service company Rakuten will aquire eBook vendor and device maker Kobo Inc. for $315 million. Canadian book and gift retailer Indigo created the eReader company in 2009. As majority stakeholder in the company, Indigo will make an estimated $140-150 million on the sale.

Here’s more about the sale, from the release: “With over 50 million customers, and a global mandate, Rakuten’s e-commerce strength and broad experience will offer the support and expertise to enable Kobo to further expand its reach and solidify its position as a global leader in eReading. Led by Kobo CEO Michael Serbinis, Kobo will continue to function as a stand-alone operation with its headquarters, management team, and employees based in Toronto.”

What do you think about the surprise sale? Kobo counts 5.6 million readers and a digital footprint in 100 countries around the world. They recently unveiled the Kobo Vox tablet.