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You might be mistaking cause and effect. They probably bought it because they planned to use it.
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I'd venture to say it is even more than probable, since they started developing the Kindle in 2004, a year before purchasing mobi. Did epub exist as a format in 2005? If they were primarily interested in proprietary control, rather than the performance of the format, could they not have just used a proprietary DRM with epub? And wouldn't that have been cheaper than buying another company?