Just two months ago, Borders announced the latest round of products from their ebook device partner Kobo.
Borders is now getting ready to shutter all of its stores and shut down operations. What does it mean for Kobo and its eReader? Kobo issued a statement on this situation this week. Here are the key points from their statement.
- While Borders is one of the early investors in Kobo, it holds only a minority stake in Kobo, approximately 11 percent. The Borders shares are subject to the terms of the Kobo shareholders’ agreement which, among other things, restricts their transfer or disposition.
- Borders serves as part of Kobo’s distribution in the U.S. along with Best Buy, Walmart, Sears and other top retailers. <- Said another way: Borders is not Kobo’s only retail partner
- Kobo does not rely on Borders for content.
- For those Borders customers who haven’t transferred their eBook libraries to Kobo, the process is quick and easy. Borders customers can visit kobo.to/bmigrate to transfer their Borders eBook library to Kobo. No additional steps are required to continue reading on your Kobo eReader. For those Borders customers that are using Borders apps to access their eBook libraries, visit kobo.com to download a free Kobo eReading app for your computer, smartphone or tablet.
- Owners of Kobo eReaders will continue to use their Kobo eReader as usual, and be able to browse and shop for new titles in the Kobo Store with no interruption or change in service
The main message is that while Kobo has lost a big partner, customers using Kobo products can except to continue using it even after Borders closes its doors for the final time.