Kobo, the eBook reader platform developer and eBook reading app provider has been reported to have been purchased for $315 million by Rakuten, one of the world’s top 3 e-commerce companies by revenue. It looks like Rakuten wants to take a stab at the eBook business with its latest acquisition.
Rakuten has been on a shopping spree recently, with the purchase of multiple companies such as PriceMinister (a French e-commerce company), Tradoria (a German online shopping mall), Ikeda (a Brazillian e-commerce company), Buy.com and Play.com (online retailers). With the addition of Kobo to its arsenal, it looks like Rakuten has the resources it needs to turn into a small Amazon, though the company didn’t mention if it had any plans to do so.
Kobo will remain in its headquarters, keep its management team and employees, stay based in Toronto, and continue operating as usual – but we wouldn’t be surprised if it expands to other parts of the world in the future.