Tesco enters ebook market by buying Andy McNab's Mobcast
Tesco is entering the increasing competitive ebook market through the acquisition of Mobcast, the ebook library company set up by author and former commando Andy McNab.
The supermarket chain is understood to be paying £4.5m for the digital book platform founded by McNab, who wrote the best-selling 'Bravo Two Zero', based on his experiences in the SAS.
Tesco's acquisition is an attempt to further strengthen its digital entertainment offer, following its acquisition of TV streaming service Blinkbox in 2011 and personalised internet radio service We7 in June.
Mobcast was launched in 2007 by chief executive Tony Lynch and McNab, and provides a digital book retail platform with a catalogue of more than 130,000 titles that can be read on smartphones, tablets and e-readers.
The cloud-based service allows customers to build an ebook library without being locked into a single device.
Michael Comish, the chief executive of Tesco digital entertainment, said the move was part of Tesco'[s strategy of giving its customers "the widest choice in digital entertainment".
Andy McNab said: "As an author, I always thought the ability to carry your library around and read on all your personal devices would be a huge benefit to all.
"We have developed a product that makes this possible, and being acquired by Tesco ensures that this original vision will be available to as many people as possible."
The latest developments come after US retailer Barnes & Noble announced last month it was bringing its Nook e-reader to the UK, which will prove a further threat to struggling Waterstones, which is entering the ebook market itself to boost its ailing physical business.Follow @mattchapmanuk
This article was first published on marketingmagazine.co.uk
- Deputy Creative Director - Integrated/shopper agency The Industry Club London Ltd £75,000, London (Greater)
- Head of Film Blue Skies Marketing Recruitment £50000 - £70000 per annum, London (Greater)
- Senior Marketing Executive B2B Blue Skies Marketing Recruitment £25000 - £30000 per annum, Greater Manchester
- Head of Digital Strategy Ball & Hoolahan £90,000 per annum, London (Central), London (Greater)
- Business Development Manager Pitch Consultants £35000 - £40000 per annum, West Midlands
- Want a tactical ad? Should have gone to Specsavers
- Maxus confirmed as world's fastest growing media agency
- Greenpeace dresses up cats to help save tigers from extinction
- Why 2014 won't be the year of mobile advertising
- ITV's Adam Crozier: 'Work to be done' after losing out to C4 during World Cup
- Palestinian and Israeli bereaved families unite for 'anti-conflict' film