Amazon.com has acquired Audible.com is the leading provider of spoken entertainment and information on the Internet
What Company Is Offering:
Audible, Inc. is the leading provider of spoken entertainment and information on the Internet. Audible specializes in the spoken experience, providing digital audio editions of books, newspapers and magazines, original programming, and TV and radio subscriptions. Consumers shop, purchase, and download audio content from www.audible.com (United States), www.audible.co.uk (United Kingdom), www.audible.de (Germany), or www.audible.fr (France) directly to personal computers for listening in a variety of ways. Most of their customers download audio to their PCs and Macs and then transfer the audio to MP3 players, personal digital assistants (PDAs), or to smart mobile devices (SMDs) for listening on the go. Others transfer, or “burn,” the content to audio CDs, while some customers simply listen at their computers or through a digital home entertainment network.
Audible customers can also have their Audible content wirelessly delivered to their smart mobile devices every day, even while they are asleep, taking the computer out of the equation. In addition to Audible’s Web sites.
In addition to our content, Audible offers customers value, convenience and flexibility. Customers have the option to buy Audible content either on a per-program basis (a la carte) or to join any one of our AudibleListener plans that offer significant savings from what consumers will find at any other traditional or online retail store. Our AudibleListener program provides customers with access to 30% discounts on any individual program, exposure to periodic sales, and six free channels of content all for the low price of $9.95 per year.
Amazon.com, Inc., announced that it has reached an agreement to acquire Audible Inc. 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.”
Under the terms of the agreement, Amazon.com will commence a cash tender offer to purchase all of the outstanding shares of Audible.com for $11.50 per share and will assume Audible.com’s outstanding stock-based awards, for an aggregate transaction value of approximately $300 million which includes Audible.com’s cash and short-term investments at closing.