Tesco have bought out Mobcast in order to challenge the dominance of Amazon in the eBook market - Mobcast was started by action-thriller author Andy McNab in 2007, the same year Amazon’s Kindle sparked the e-book market. The company sells more than 130,000 UK titles, which can be downloaded and read on all major mobile platforms, including iPhone and Android smartphones, not just a dedicated e-reader.
Tesco are the third biggest retailer in the world in terms of revenue, coming in behind behind Walmart and French shopping giant Carrefour.
Mobcast is Tesco’s third digital media company acquisition in the last 18 months. Tesco acquired a majority stake in Blinkbox, a video streaming company similar to Netflix in April 2011. In June, Tesco purchased Pandora-like internet radio company WE7 to offer a larger music streaming library to its customers.