Amazon to acquire for $300 million

Updated has announced that it has reached an agreement to acquire Audible Inc. for approximately $300 million. is the leading online provider of digital spoken word content, and is the preeminent provider of audiobooks for the iTunes Store. “ offers the best customer experience, the widest content selection and the broadest device compatibility in the industry,” said Steve Kessel,’s senior vice president for worldwide digital media. “Working together, we can introduce more innovations and bring this format to an even wider audience.” “This deal brings together two pioneering companies that share a long history of ceaseless focus on improving the customer experience,” said Donald Katz, founder and chief executive of “We are very excited to be joining a company as innovative as” Under terms of the agreement, Amazon will make a cash tender offer to purchase all of the outstanding shares of for $11.50 per share.

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Charles Starrett

Charles Starrett was a senior editor at iLounge. He's been covering the iPod, iPhone, and iPad since their inception. He has written numerous articles and reviews, and his work has been featured in multiple publications.