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