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Canadian eBook Reader Kobo To Be Acquired By Rakuten

eBook reader Kobo announced late Thursday that it would be acquired by Japan’s Rakuten for US$315 million in cash. The Kobo was first launched in December 2009 by
Indigo Books & Music.
Hiroshi Mikitani, Chairman and CEO of Rakuten, commented on the acquisition, “We are very excited about this next step. Kobo provides one of the world’s most communal eBook reading experiences with its innovative integration of social media, such as Facebook and Twitter; while Rakuten offers Kobo unparalleled opportunities to extend its reach through some of the world’s largest regional e-commerce companies, including Buy.com in the US, Tradoria in Germany, Rakuten Brazil, Rakuten Taiwan, Lekutian in China, TARAD in Thailand, and Rakuten Belanja Online in Indonesia, and of course, Rakuten Ichiba in Japan.”
Indigo also reported its Q2 2011 results and reported 1.7% increase in revenues, and sales up the Kobo were up by 219%.