Tesco buys e-book company Mobcast for £4.5 mln

Sep 04, 2012
A Tesco supermarket in Holyhead in 2011. British supermarket giant Tesco said Tuesday that it has agreed to buy London-based e-book firm Mobcast for £4.5 million ($7.1 million, 5.7 million euros).

British supermarket giant Tesco said Tuesday that it has agreed to buy London-based e-book firm Mobcast for £4.5 million ($7.1 million, 5.7 million euros).

"Tesco has acquired Mobcast, the award-winning digital book platform provider," the retail group said in a brief statement that also gave the purchase price.

"The acquisition further strengthens Tesco's digital entertainment offer, following the purchase of movie and TV blinkbox in 2011 and personalised WE7 in June 2012."

Mobcast provides a platform for companies to sell e-books and currently works with Orange, which is owned by .

London-listed Tesco is the world's third-largest retailer after US-based Wal-Mart and France's Carrefour, but has suffered poor trading at its domestic operations in recent times.

Meanwhile, Tuesday's deal will hand a windfall to Mobcast co-founder Andy McNab, who fought behind enemy lines with Britain's elite Special Air Service (SAS) in the first Gulf War.

McNab is now a best-selling thriller writer and founded the e-book company with chief executive Tony Lynch in 2007.

Explore further: Taxi app Uber defies ban in Spain

add to favorites email to friend print save as pdf

Related Stories

Wal-Mart buys online movie company Vudu

Feb 22, 2010

US retail giant Wal-Mart plunged into the online video market on Monday with the purchase of Vudu, a company which delivers movies to Internet-enabled television sets and Blu-ray players.

Apple names European exec to head retail ops

Jan 31, 2012

(AP) -- Apple Inc. has named Dixons Retail CEO John Browett as its top retail executive, charged with developing the sales strategy for the iPhone and iPad maker as it expands Apple stores around the world.

Japan online retailer Rakuten to launch e-reader

Jul 02, 2012

Online retailer Rakuten said Monday it would launch a $100 e-reader into Japan's largely untapped digital book market, as rivals including US online giant Amazon eye the reading-mad nation.

Recommended for you

Sony's PlayStation 'gradually coming back'

4 hours ago

Sony was still struggling Saturday to fully restore its online PlayStation system, three days after the Christmas day hack that also hit Microsoft's Xbox, reporting that services were "gradually coming back."

Uber broke Indian financial rules: central bank chief

4 hours ago

India's central bank chief lashed out at Uber, already under fire over the alleged rape of a passenger, saying the US taxi-hailing firm violated the country's financial regulations by using an overseas payment ...

Taxi app Uber defies ban in Spain

Dec 26, 2014

Smartphone car-ride service Uber vowed Friday to keep operating in Spain despite a ban following a lawsuit by taxi drivers and said it would fight the case in court.

Sony film mess reflects gadgets-entertainment gap

Dec 26, 2014

Sony's iconic gadgetry and the star appeal of Hollywood may have appeared to be a perfect match when the electronics giant bought Columbia Pictures in 1989. A quarter century later, it's apparent that Sony ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.