Amazon turns up volume, buys Audible
Amazon.com said today that it has agreed to buy digital spoken word audio provider Audible Inc for $11.50 a share.
The online retailer valued the transaction at about $300m which includes Audible’s cash and short-term investments.
Under the deal, Amazon said it will start a cash tender offer to buy all of Audible’s remaining shares.
New Jersey-based Audible sells around 80,000 programs that include audiobooks from the likes of Stephen King and Jane Austen.
Read more: theregister.co.uk