Sainsbury’s has acquired online entertainment company Global Media Vault Ltd from MBL PLC for £1 million. The acquisition will support the retailer’s drive into the growing online and digital entertainment market following the launch of the Sainsbury’s Entertainment website in November 2010.
Global Media Vault Ltd is a white label online digital entertainment business operating with Sainsbury’s as its main client. It began trading in January 2009 and has developed a unique entertainment ecommerce and digital media platform. GMV’s digital database already includes over three million music, film and game assets for the UK market, all of which can be browsed, purchased and distributed via web, mobile, TV and kiosk applications.
Luke Jensen, Sainsbury’s Group Development Director, said, “Online retailing and the delivery of digital content will play a key role in the future of entertainment so this is an important acquisition for Sainsbury’s. Taking full control of GMV Ltd will enable us to develop our existing Sainsbury’s Entertainment website even further enhancing the functionality and customer experience, meaning customers will soon be able to buy, rent or stream content from Sainsbury’s.”