Rakuten, Inc. has just announced that it has signed a "definitive agreement" to "to acquire 100% of total issued and outstanding shares" of Kobo for a total of $315 milllion in cash. According to the press release, Rakuten is "one of the world's top 3 e-commerce companies by revenue." Just this February, Kobo's major American retail partner, Borders, filed for bankruptcy. Rakuten CEO Hiroshi Mikitani had this to say about the acquisition:.
We are very excited about this next step.
Engadget, Rakuten signs agreement to purchase Kobo
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