Sainsbury’s snaps up e-book retailer Anobii
Sainsbury’s has acquired HMV Group’s 64% stake in online e-book retailer Anobii for a token £1.
Anobii currently has more than 600,000 users worldwide, with a library of more than 60,000 e-books.
Sainsbury’s launched an entertainment site in November 2010 and in October last year acquired online entertainment company Global Media Vault.
“This acquisition is a valuable addition to our digital portfolio and shows our commitment to becoming a key player in the digital entertainment market,” said Sainsbury’s head of digital entertainment Mark Bennett.
“It further demonstrates how we are constantly looking to innovate and seize opportunities that will support the future growth of our business. We’re excited about working together with the Anobii team and our fellow shareholders in supporting Anobii to become a leading retailer of e-books.”