Japanese Company Buys Tableteer Kobo

The Japanese e-commerce company Rakuten, Inc. has reached an agreement with Indigo Books & Music to purchase all outstanding shares of international ebook retailer Kobo Inc. for $315 million in an acquisition that is expected to close in the first quarter of 2012. When the deal is completed Kobo will keep its headquarters in Toronto and Kobo CEO Michael Serbinis will continue direct the firm as a standalone company.