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Listed Techs Amazon to buy audiobook seller
Listed Techs Amazon to buy audiobook seller | Amazon to buy audiobook seller |
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| by Stephen Withers | |
| Friday, 01 February 2008 | |
  
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"Audible.com offers the best customer experience, the widest content selection and the broadest device compatibility in the industry," said Steve Kessel, Amazon's senior vice president for worldwide digital media. "Working together, we can introduce more innovations and bring this format to an even wider audience." The agreement between the two companies involves a cash offer of $US11.50 per share. Amazon will also assume Audible's outstanding stock-based awards. The $US300 million valuation includes Audible's cash and short term investments. Assuming regulatory and other approvals are obtained, the deal should be finalised by the second quarter of 2008. |
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