Kobo Acquired By Japanese E-Commerce Firm Rakuten For $315 Million

paidcontent reporting:

E-bookseller and e-reader company Kobo is being acquired by Japanese e-commerce company Rakuten for $315 million. The company says it will continue to expand in the U.S., while growing its international market share through Rakuten. Look for upcoming partnerships with fellow Rakuten-owned company Buy.com, as well as a Japanese-language Kobo e-reader sometime next year.

Kobo, which was founded by Canadian bookseller and retailer Indigo in December 2009, will now be a wholly owned subsidiary of Rakuten and will continue to operate as a standalone company under CEO Michael Serbinis in Toronto. Indigo, Kobo’s primary shareholder, expects to receive $140 to $150 million from the sale—a return of “over 300 percent,” said Indigo CEO Heather Reisman.

SEE ALSO: Japan's E-commerce Giant Rakuten Buying Play.com For £25 Million

Rakuten is Japan’s leading e-commerce site and has acquired a string of other such sites in recent months. The company’s “current acquisitions strategy smacks more of Google (NSDQ: GOOG) than of any Japanese firm,” writes Japense consumer market research company Japan Consuming. Last year, Rakuten bought U.S. site Buy.com for $250 million and French site PriceMinister for €200 million, and launched a Chinese e-commerce site in partnership with Baidu (NSDQ: BIDU). Rakuten bought Brazilian e-commerce site Ikeda this June, and the UK’s Play.com in September.
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