Amazon announced that it will buy Audible.com. Audible is the leading online provider of audio books and other spoken word audio content that is played back via computers and other electronic devices.
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"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 Audible.com. "We are very excited to be joining a company as innovative as Amazon.com."
Amazon is offering a cash offer for outstanding shares of Audible.com at $11.50 per share. The approximate value of the transaction is $300 million. The purchases is still subject to regulatory approvals but is expected to be complete in Q2 2008.
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