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: Apple edges Samsung, retakes smartphone throne: survey

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

Visa, MasterCard moving into mobile pay in Africa

13 hours ago

Americans may just be getting used to mobile pay, but consumers in many African countries have been paying with their phones for years. Now payment processors Visa and MasterCard want to get a slice of that market, and are ...

Wireless show highlights: Eyes on Apple, Blackberry

14 hours ago

As a major wireless show continues this week in Barcelona, Spain, Apple is highlighting the capabilities of its iPhone cameras with a gallery of photos taken by its users around the world.

Venture capitalist testifies in Silicon Valley sex-bias suit

21 hours ago

A prominent Silicon Valley venture capitalist who helped direct early investments in Google and Amazon said Tuesday during testimony in a high-profile sex discrimination lawsuit that his firm is not run by men and has many ...

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.