Kobo eReader

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The Kobo eReader is an e-reader produced by Toronto-based Kobo Inc (a subsidiary of Rakuten). Kobo Inc. originated in December 2009 through a Indigo Books and Music spinoff of their short-lived e-book marketplace, Shortcovers. The original e-reader model was released in May 2010 and was marketed as a minimalist alternative to the more expensive e-book readers available at the time. Like most e-readers, the Kobo uses an electronic ink screen. "Kobo" is an anagram of "book". In November 2011, Rakuten and Kobo Inc. announced a definitive agreement under which Rakuten would acquire 100% of Kobo's shares for US$315 million in cash. The acquisition closed in January 2012 following approval by Canadian regulatory authorities. The Arc tablet series, released between 2011 and 2013, was based on LCD technology instead.