Amazon.com has announced that it has reached an agreement to acquire Audible Inc. for approximately $300 million. Audible.com is the leading online provider of digital spoken word content, and is the preeminent provider of audiobooks for the iTunes Store.
“Audible.com offers the best customer experience, the widest content selection and the broadest device compatibility in the industry,” said Steve Kessel, Amazon.com’s senior vice president for worldwide digital media. “Working together, we can introduce more innovations and bring this format to an even wider audience.” “This deal brings together two pioneering companies that share a long history of ceaseless focus on improving the customer experience,” said Donald Katz, founder and chief executive of Audible.com.
“We are very excited to be joining a company as innovative as Amazon.com.” Under terms of the agreement, Amazon will make a cash tender offer to purchase all of the outstanding shares of Audible.com for $11.50 per share.
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