eBook start-up Kobo is being sold to Japanese internet giant Rakuten for $315 million on a fully-diluted basis. Kobo will continue to operate as a stand-alone entity, based in Toronto, Canada. Kobo’s majority shareholder Indigo Books & Music said they expect to receive $140 million to $150 million in proceeds, though they told shareholders “the account gain cannot be determined at this time.” Those proceeds are almost equal to Indigo’s total market cap as of yesterday. As you would expect, their thinly-traded stock jumped by over 50 percent this morning, though at $10.50 a share the price is still well […]
