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Rakuten signs agreement to purchase Kobo
Rakuten, Inc. has just announced that it has signed a "definitive agreement" to "to acquire 100% of total issued and outstanding shares" of Kobo for a total of $315 million in cash. According to the press release, Rakuten is "one of the world's top 3 e-commerce companies by revenue." Just this February, Kobo's major American retail partner, Borders, filed for bankruptcy. Rakuten CEO Hiroshi Mikitani had this to say about the acquisition: We are very excited about this next step. Kobo provides one of the world's most communal eBook reading experiences with its innovative integration of social media, such as Facebook and Twitter; while Rakuten offers Kobo unparalleled opportunities to extend its reach through some of the world's largest regional e-commerce companies, including Buy.com in the US, Tradoria in Germany, Rakuten Brazil, Rakuten Taiwan, Lekutian in China, TARAD in Thailand, and Rakuten Belanja Online in Indonesia, and of course, Rakuten Ichiba in Japan. Rakuten has indicated that its latest acquisition will maintain its headquarters, management and employees following the final purchase. We'll be listening in on the conference call and will keep you posted on any more details. In the meantime, a full press release is available for your reading pleasure after the break. We just got off a conference call with Kobo CEO Michael Serbinis, and he stressed that the acquisition was made to help Kobo expand its market share internationally and to gain the resources needed to continue to grow the company. It wasn't borne of necessity after the Borders liquidation, and Kobo was never shopping itself to potential buyers -- the partnership with Rakuten just made good business sense. And it's not just about making money abroad, either. Serbinis was also quick to point out that partnering up with Rakuten-owned Buy.com gives Kobo a channel to increase its presence in the US as well. Looks like the e-reader market's about to really heat up, and not just because of the Fire.
Panasonic Raboo UT-PB1 e-reader gets official, acts more like a tablet
Panasonic already took its UT-PB1 e-reader out for a step-and-repeat at the e-Book Expo Tokyo this year, but kept some important details under wraps. Now the tablet e-reader is ready for its official coming out party. The 7-inch, color touchscreen Raboo UT-PB1 is set to launch in Japan on August 10th, retailing at about ¥34,800 (that's $444) and packing 600 plus "pre-viewable books." There's an Android OS running on an unspecified dual-core CPU under that book-mimicking surface with the company's own UI slathered all over it -- so there'll be no tablet-esque shenanigans here, yet. The 400 gram (14 ounce) handheld also comes furnished with 8GB of storage, WiFi, Bluetooth, microSDHC, support for various video and audio files, and packs basic web and email apps. Sound like a dedicated reading device to you? Unfortunately, it only plays nice with the XMDF e-book format, so if you're interested in picking one up, you're gonna be tied to the Rakuten E-Book store. Check out the video below for a glimpse of the non-tab in action and maybe even a little dental training doll cameo.
Panasonic debuts UT-PB1 e-reader tablet, spices it with Android flavor (video)
Listen up, bibliophiles. Current e-readers don't have enough pizazz for ya? Panasonic's Japan-bound prototype e-book reader tablet may just be your fancy. According to DigInfo, the UT-PB1 was recently shown-off at e-Book Expo Tokyo sporting a 7-inch 1024 x 600 display, micro SD slot, webcam, and WiFi, all running atop a dual-core processor. Being Android-based, there's confirmed support for basic apps like email, but it's hard to tell just how restricted customized the build will be. The reader will have 600 "previewable" titles to get you started, and Rakuten's e-book store will serve up content and real-time updates -- via a custom API -- in August when the service goes live. Panny's remaining coy about specific price and release details, but before you get back to that hardcover on your desk, head past the break to view it in action.
