Rakuten completes acquisition of Kobo

"As a part of Rakuten, we will accelerate our growth internationally, bringing new products, a leading eReading experience and a world class catalogue.,” said Michael Serbinis, CEO of Kobo Inc.
Kobo Inc. today announced the successful acquisition of all its outstanding shares by Rakuten, Inc. for US $315 million. The acquisition has been completed following customary closing conditions, including approval under the Investment Canada Act. Kobo’s management team will remain with the company, which will continue to be headquartered in Toronto.