Amazon.com to acquire digital audio books provider Audible

Online retailing giant Amazon has announced that they are now acquiring digital audio books provider Audible Inc.

The deal is worth around USD 300 million and it would help them to expand their audio download offerings.

Amazon recently launched their digital media store by offering DRM free music through Amazon MP3 service.

Incidentally, Audible sells their content through Amazon’s rival service Apple iTunes which also is the market leader in the online digital store market.

Stifel Nicolaus analyst Scott Devitt spoke about this deal: “Audible was already the exclusive partner for Amazon’s digital audio offering on Amazon.com. Audible will benefit from an immediate branding event and become integral to the very bright future of Amazon Kindle.”

Amazon Kindle is an e-book reader launched by Amazon last year.

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