August 1, 2008
Amazon.Com to Acquire AbeBooks
Amazon.com, Inc. (NASDAQ:AMZN), today announced that, subject to closing conditions, it has reached an agreement to acquire AbeBooks. AbeBooks is an online marketplace for books, with over 110 million primarily used, rare and out-of-print books listed for sale by thousands of independent booksellers from around the world.
"As a leader in rare and hard-to-find books, AbeBooks brings added breadth and expanded selection to our customers worldwide," said Russell Grandinetti, vice president of books for Amazon.com. "AbeBooks provides a wide range of services to both sellers and customers, and we look forward to working with them to further grow their business. We're excited to present all of our customers with the widest selection of books available any place on Earth.""This deal brings together book sellers and book lovers from around the world, and offers both types of customers a great experience," said Hannes Blum, chief executive officer of AbeBooks. "We are very excited to be joining the Amazon family."
The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close before the end of the fourth quarter of 2008.
AbeBooks will continue to function as a stand-alone operation based in Victoria, British Columbia. AbeBooks will maintain all of its websites, including its Canadian website with Canada-specific content, such as reviews of Canadian-authored books and interviews of Canadian writers.
AbeBooks is an online marketplace for books, with over 110 million primarily used, rare and out-of-print books listed for sale by thousands of independent booksellers from around the world. AbeBooks has millions of customers who purchase tens of thousands of books a day from its global websites (Abebooks.com, Abebooks.ca, Abebooks.co.uk, Abebooks.de, Abebooks.fr, Abebooks.it and Iberlibro.com). A true internet success story, AbeBooks.com has been selling books online since 1996, and is a private company based in Victoria, BC, Canada, with affiliates in Germany and the United States. Internet Retailer magazine ranked AbeBooks at No. 73 among North American online retailers in June 2008.
Amazon.com, Inc. (NASDAQ:AMZN), a Fortune 500 company based in Seattle, opened on the World Wide Web in July 1995 and today offers Earth's Biggest Selection. Amazon.com, Inc., seeks to be Earth's most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices. Amazon.com and other sellers offer millions of unique new, refurbished and used items in categories such as books, movies, music & games, digital downloads, electronics & computers, home & garden, toys, kids & baby, grocery, apparel, shoes & jewelry, health & beauty, sports & outdoors, and tools, auto & industrial.
Amazon Web Services provides Amazon's developer customers with access to in-the-cloud infrastructure services based on Amazon's own back-end technology platform, which developers can use to enable virtually any type of business. Examples of the services offered by Amazon Web Services are Amazon Elastic Compute Cloud (Amazon EC2), Amazon Simple Storage Service (Amazon S3), Amazon SimpleDB, Amazon Simple Queue Service (Amazon SQS), Amazon Flexible Payments Service (Amazon FPS), and Amazon Mechanical Turk.
Amazon and its affiliates operate websites, including www.amazon.com, www.amazon.co.uk, www.amazon.de, www.amazon.co.jp, www.amazon.fr, www.amazon.ca, and the Joyo Amazon websites at www.joyo.cn and www.amazon.cn.
As used herein, "Amazon.com,""we,""our" and similar terms include Amazon.com, Inc., and its subsidiaries, unless the context indicates otherwise.
Amazon Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, outcomes of legal proceedings and claims, fulfillment center optimization, seasonality, commercial agreements, acquisitions and strategic transactions, foreign exchange rates, system interruption, significant amount of indebtedness, inventory, government regulation and taxation, payments and fraud. More information about factors that potentially could affect Amazon.com's financial results is included in Amazon.com's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2007, and subsequent filings.