Tesco acquires e-book platform provider Mobcast
Tesco has acquired digital book platform provider Mobcast as it looks to strengthen its digital entertainment offer. The move follows the supermarkets purchase of movie and TV streaming service Blinkbox in 2011 and the personalised internet radio service WE7 in June 2012.
Mobcast was founded in 2007 by CEO Tony Lynch and bestselling author Andy McNab. It provides a digital book retail platform with a catalogue of more than 130,000 of the UK’s most popular titles which can be bought and read on smartphones, tablets and e-readers. It also offers a cloud-based service that enables customers build up an e-book library collection without being locked-in to a single device.
Michael Comish, CEO Tesco Digital Entertainment, said: "We want our customers to have the widest choice in digital entertainment. We are already one of the UK’s largest booksellers and Mobcast will help us offer even more choice for the large and growing number of customers who want to buy and enjoy books on their digital devices whenever and wherever they want."
Tesco is reported to have paid a purchase price of £4.5 million for the company.
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