• November 8, 2011

Rakuten intends to acquire 100% of total issued and outstanding shares of Kobo for $315 million in cash. Kobo was founded by and spun out of Indigo, the largest book, gift and specialty toy retailer in Canada, in December 2009. Since that time, Kobo has become a competitor in the eBook marketplace, with eReaders, a wide range of eReading apps, a social platform and retail partners around the globe. The acquisition marks a major step forward for Rakuten, one of the world's top three e-commerce companies by revenue.