Barnes & Noble Acquires Fictionwise
Facebook Facebook Twitter Twitter LinkedIn LinkedIn Fictionwise.com<%2Fa>%20and%20eReader.com<%2Fa>,%20for%20$15.7%20million%20in%20cash.%20Barnes%20%26%20Noble%20said%20it%20plans%20to%20use%20Fictionwise%20as%20part%20of%20its%20overall%20digital%20strategy,%20which%20includes%20the%20launch%20of%20an%20e-bookstore%20later%20this%20year.%0D%0A%0D%0Ahttps%3A%2F%2Fwww.bookbusinessmag.com%2Farticle%2Fbarnes-noble-acquires-fictionwise-404106%2F" target="_blank" class="email" data-post-id="3996" type="icon_link"> Email Email 0 Comments Comments
Barnes & Noble has acquired Chatham, N.J.-based e-book retailer Fictionwise Inc., which owns and operates Fictionwise.com and eReader.com, for $15.7 million in cash. Barnes & Noble said it plans to use Fictionwise as part of its overall digital strategy, which includes the launch of an e-bookstore later this year.
The world's largest bookseller intends to keep Fictionwise as a separate business unit, and its founders, Steve and Scott Pendergrast, will continue to operate the business. In addition to the closing purchase price, Fictionwise may receive earn-out payments for achieving certain performance targets over the next two years, according to Barnes & Noble.