Rakuten Snaps Up E-Book Seller Kobo For $315M

Law360, New York (November 8, 2011, 10:14 PM EST) -- Rakuten Inc. will acquire Canadian e-book seller Kobo Inc. for $315 million in cash as part of its global expansion of its e-commerce business, the Japan-based online retailer announced Tuesday.

Rakuten, which is one of the world’s top three e-commerce companies by revenue, said in a statement that it expects to close the deal in the first quarter of 2012, pending approval by Canadian regulators.

The global e-book market, which has a compound annual growth rate of 36 percent through 2015, is among the fastest growing...
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