Amazon buys in $300 million cash deal

Share this content:
Amazon lets consumers shop via text
Amazon lets consumers shop via text has reached an agreement to acquire digital book provider Audible Inc. in a $300 million cash deal.

Under the terms of the agreement, will purchase all outstanding shares of for $11.50 per share and will assume's outstanding stock-based awards, for an aggregate transaction value of approximately $300 million. This includes's cash and short-term investments at closing.

“ offers the best customer experience, the widest content selection and the broadest device compatibility in the industry,” said Drew Herdener, senior public relations manager at “Together, we believe we can introduce more consumers to the benefits of the digital audiobook experience.”

This move comes after Amazon's move into the digital book space, with last fall's debut of the Amazon Kindle, an electronic book reading device. sells digital spoken word audio content, including digital audio editions of books, newspapers and magazines, television and radio programs. Its content offering includes more than 80,000 programs, including audiobooks from authors such as Stephen King and Jane Austen, and spoken word audio content from sources including The New York Times, The New Yorker and Charlie Rose. will continue to function as an independent company under the continued leadership of Don Katz.

The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close by the second quarter of 2008.


Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

We recently were named B2B Magazine's Direct Marketing Agency of the Year, and with good reason: We make real, measureable, positive change happen for our clients. A full-service agency founded in 1974, Bader Rutter expertly helps you get the right message to the right audience at the right time through the right channels. As we engage our clients' audiences along their journey, direct marketing (email, direct mail, phone, SMS) and behavioral marketing (SEM, retargeting, contextual) channels deliver information relevant to the needs of each stage. We are experts at implementing and leveraging marketing technologies such as CRM and marketing automation in order to synchronize sales and marketing communications. Our team of architects and activators plan, execute, measure and adjust in real time to ensure the strategy is working as needed and change things if it's not.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above