Amazon to Acquire AbeBooks

August 1st, 2008 at 12:00 am
 


abebooks rare hard to find out of print

Amazon is announcing today their plans to acquire AbeBooks.  AbeBooks is a marketplace for books mostly used, rare and hard-to-find posted by thousands of booksellers from around the world.  Amazon will not necessarily own the books on AbeBooks but only peddle them on their site.

From the press release, Amazon states, "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." 

Furthermore, "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." 

AbeBooks will continue its operations as a stand alone Canada-based site.  However, Amazon will also have some control over them including selling their books on Amazon.

The deal is still subject to closing conditions and will be finalized at the end of the fourth quarter 2008.  The price of the acquisition nor the plans of Amazon have not yet been disclosed.