MAIN NEWS HEADLINES
August 7 – 14, 2008 Edition
AbeBooks Acquired
By Online Giant
Amazon.com
SEATTLE, WA/8/7/2008–Amazon.com agreed last week to acquire the huge British Columbia used book dealer, AbeBooks, for an undisclosed sum. AbeBooks lists more than 100 million titles for sale through its online bookseller network, which will be added to Amazon’s already overwhelming lead in the used book field.
AbeBooks handles used, out-of-print and rare book titles through a nework of web sites through the world. Current Abe CEO Hannes Blum will oversee Abe Books as a stand-alone unit of Amazon. Blum said that the sale is a “major landmark” for Abe and will provide the company with more opportunities for growth. The 12-year-old operation is based in Victoria, British Columbia.
Russell Grandinetti, vice presidnet of books for Amazon said the deal will add breadth and expand selection to Abe/Amazon customers worldwide. A bookseller meeting was scheduled August 7 to answer questions about the acquisiton. It was nto clear whether the meeting will be broadcast online.
