Amazon.com to Acquire AbeBooks
Amazon.com has reached an agreement to acquire AbeBooks, an online marketplace for used, rare and out-of-print books. The Victoria, British Columbia-based AbeBooks will continue to function as a stand-alone operation and maintain its Web sites.
“As a leader in rare and hard-to-find books, AbeBooks brings added breadth and expanded selection to our customers worldwide,” says Russell Grandinetti, vice president of books for Amazon.com. “AbeBooks provides a wide range of services to both sellers and customers, and we look forward to working with them to further grow their business. We’re excited to present all of our customers with the widest selection of books available any place on Earth.”
“This deal brings together booksellers and book lovers from around the world, and offers both types of customers a great experience,” says AbeBooks CEO Hannes Blum. “We are very excited to be joining the Amazon family.”
The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close before the end of the fourth quarter of 2008.