Rakuten completes purchase of Kobo
January 11, 2012 | 11:49 pm
Engadget has the press release from Kobo on the completion of its purchase by e-commerce company Rakuten. Kobo’s HQ will remain in Toronto, though Rakuten is based in Japan. Given that Rakuten owns a lot of popular e-commerce and other industry sites already (including e-tailer Buy.com), it has the potential to give Kobo a lot more expansion and marketing opportunities than its erstwhile partner, the late Borders.
Will that be enough to let Kobo catch up with Amazon, or even maintain its lead in international areas Amazon doesn’t service yet? That remains to be seen. But if there was ever any doubt how popular e-books are becoming now, the way that a huge corporation like Rakuten so quickly snatched up Kobo should more than lay them to rest.