Hello.
I think that Abbyy FineReader
http://finereader.abbyy.com/ will do the job..
To convert paper book to electronic form You can chose 2 ways...
First (quicker) scan it to images...but it will be hard to scale on ereader
Second(longer) You can transform images to normal text with OCR program (like FineReader),open program , click Wizard...and the job will do automatic...but it's very important to scan quality have been good,becosue if not..there OCR will make lots of mistakes in reconizing text proces.