Indigo Maintains Majority Ownership As Kobo Closes $50 Million Investment Round
April 19 2011 - 1:38PM
PR Newswire (Canada)
TORONTO, April 19 /CNW/ -- TORONTO, April 19 /CNW/ - Indigo Books
& Music Inc. today announced the final closing of the series C
investment round for Kobo Inc. Indigo contributed $13 million of
the $50 million in financing with the balance contributed by
leading institutional investors, as well as current Kobo investor
Cheung Kong Holdings. This round of investment adjusts Indigo's
majority ownership to 51%. The Board of Directors of Indigo Books
& Music Inc. today also approved a quarterly dividend of 11
cents per common share to be paid on May 19(th), 2011, to all
shareholders of record as of May 4(th), 2011. Commenting on the
newest financing, Heather Reisman, Indigo's founder and CEO, and
the Chair of Kobo said "We are immensely proud of the strides made
by Kobo into the global market. This additional investment will
foster continued explosive growth for Kobo." Last week, Kobo
announced its plans to launch local content
stores in Germany - the largest book market outside of the US
- and Spain starting in May 2011. Forging another
industry first, Kobo will launch dedicated online stores for
France, Italy and the Netherlands this summer.
In providing local content and reading experiences
for European readers, Kobo continues to build on their
vision of providing a device agnostic and easy to access global
eReading service. Indigo today also launched the highly anticipated
BlackBerry® PlayBook™ tablet at Indigo, Chapters and Coles stores
nationally and at www.chapters.indigo.ca. The devices come
preloaded with the Kobo App providing booklovers globally with
another innovative way to experience the magic of eReading through
Kobo. -- Since launching in December 2009, Kobo has: o 3.2 million
Users: with over 1 million users added in the last 90 days. o One
of the largest stores worldwide: over 2.3 million eBooks,
newspapers and magazines. o A leading eReader: The Kobo Wireless
eReader provides an easy to use eReader that's a joy to hold. o Top
ranked eReading Applications: for iPad, iPhone, Blackberry,
Android, Palm WebOS, Windows, MacOS o Localised Stores: Kobo
already offers locally merchandised English language stores in the
US, Canada, UK, Australia, New Zealand and Hong Kong - with Germany
and Spain launching in May, and France, Italy and the Netherlands
launching this summer. o Leading Tablet Partners including Samsung,
Research in Motion and HTC have chosen Kobo as their global
eReading platform for their mobile devices. o An Open Platform:
Kobo is dedicated to an open cloud-based platform, enabling users
to build their lifetime library, and access it from any device. o
The Most Comprehensive Social eReading Experience - Kobo's Reading
Life; an industry-first social experience that enables passionate
readers to connect with friends to discuss their favourite books on
Facebook, build their Reading Life, and earn awards - just for
reading. Forward-Looking Statements Statements contained in this
news release that are not historical facts are forward-looking
statements which involve risk and uncertainties that could cause
results to differ materially from those expressed in the
forward-looking statements. Among the key factors that could cause
such differences are: general economic, market or business
conditions in Canada; competitive actions by other companies;
changes in laws or regulations; and other factors, many of which
are beyond the control of the Company. About Indigo Books &
Music Inc. Indigo is a publicly traded Canadian company listed on
the Toronto Stock Exchange (IDG) and the majority shareholder
of the global eReading service Kobo, Inc. As the largest book
and specialty retailer in Canada, Indigo operates in all provinces
under different banners including Indigo Books & Music; Indigo
Books, Gifts, Kids; IndigoSpirit, Chapters, The World's Biggest
Bookstore, and Coles. The online division,
http://www.chapters.indigo.ca, features books, eBooks, toys, gifts
and, and hosts the award winning Indigo Online Community. About
Kobo, Inc. Kobo, a global eReading service with more than 2.3
million eBooks, magazines and newspapers - one of the largest
eReading catalogues in the world. Kobo believes consumers should
have the freedom to read any book on any device and has attracted
millions of readers from over 100 countries across the
globe. Kobo has top ranked eReading applications for
iPad, iPhone, Blackberry, Android, Palm WebOS, Windows, MacOS and
is the eReading application of choice for leading tablet
OEMs. For more information visit Kobo.com. To view this news
release in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/April2011/19/c5444.html
p align="justify" Media Contact: Janet Eger, Director, Public
Relations, Indigo Books & Music Inc.,br/ 416.342.8561; a
href="mailto:jeger@indigo.ca"jeger@indig/aa
href="mailto:jeger@indigo.ca"o.ca/a /p
Copyright
Indigo Books and Music (TSX:IDG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Indigo Books and Music (TSX:IDG)
Historical Stock Chart
From Jul 2023 to Jul 2024