Amazon to acquire Audible.com

Amazon to acquire Audible.com
Online merchant of common folks, Amazon.com has now announced that it will be buying Audible Inc., the company behind audiobook shop Audible.com. The acquisition is set to be worth about $300 million and consist of cash money and short-term investments and will provide Amazon.com with a bigger piece of the audio content market. Audible.com already offers over 80,000 programs, either 'classic' audiobooks or spoken-word audio content.

As planned Amazon will be paying $11.50 per Audible share and, if everything goes well, the deal will be closed by the end of Q1.