Indigo and Borders-owned Kobo to Run Samsung Galaxy Tablet's Bookstore
Kobo Inc., the digital book provider owned by Indigo Books & Music Inc. and Borders Group Inc., will provide the e-book store for Samsung Electronics Co.’s Galaxy tablet computer, according to Kobo’s chief executive officer.
“This partnership is an industry first for Kobo and Samsung, offering the first e-reading experience on an Android tablet to readers worldwide,” CEO Michael Serbinis said today on Kobo’s website.
The Galaxy Tab, a challenger to Apple Inc.’s iPad, will be sold in Europe in October and the company is in talks with mobile phone service providers to bring it to the U.S., WP Hong, Samsung’s head of global planning, said today at a consumer electronics conference in Berlin. The device is run by Google Inc.’s Android operating system.
Indigo and Borders, the second-largest U.S. bookstore chain, invested in Kobo to take part in the growing digital book market. Indigo, the Toronto-based chain, has a majority stake in Kobo, which it spun off as a separate company last year. Borders, based in Ann Arbor, Michigan, owns about 20 percent of Kobo. Borders sells the Kobo e-reader and its digital bookstore is powered by Kobo.
Borders rose 2 cents, or 1.9 percent, to $1.06 at 4:15 p.m. in New York Stock Exchange composite trading. Indigo gained 5 cents to C$14.14 on the Toronto Stock Exchange. Samsung, Asia’s largest maker of semiconductors, rose 7,000 won, or 0.9 percent, to 759,000 won in Seoul trading.