Sainsbury’s has acquired HMV Group plc’s shareholding in Anobii Limited, a social network and online retailer of e-books. Sainsbury’s purchased HMV Group plc’s stake for £1. As a result of the transaction and Sainsbury’s investment in the future development of the business, it is anticipated that Sainsbury’s will have a 64% stake in Anobii.
The investment in Anobii follows the acquisition of online entertainment company Global Media Vault Ltd in October 2011 and the launch of its music download service earlier this year.
Anobii is an online e-books platform which enables readers to research titles and purchase them to read on a range of e-reader, smartphone and tablet devices. Readers can rate, review, share and discuss their choices with other Anobii members on http://www.anobii.com and across related social networking sites. The service currently has over 600,000 users worldwide, with a library of over 60,000 e-books.
Sainsbury’s joins Anobii’s existing shareholders and global publishers HarperCollins, Penguin and Random House Group (UK) with the aim of investing in and developing the business in the UK and overseas.
Mark Bennett, Sainsbury’s Head of Digital Entertainment, said: “Anobii’s innovative use of social media is a clear differentiator. This acquisition is a valuable addition to our digital portfolio and shows our commitment to becoming a key player in the digital entertainment market. 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.”
- Sainsbury’s acquires Global Media Vault Posted onOctober 25, 2011