Amazon already owns the most popular brand for ebooks, having debuted the Kindle ages ago and attracted consumers and publishers alike before other big players managed to establish a foothold in the industry. Now the company's going after comics. It could continue to expand its library of Kindle editions, but the speedier approach would be the buy the best competitor out there. So that's what Amazon is doing. The company has just announced plans to acquire comiXology, the makers of a popular digital comics platform, not to mention a couple of great Android comic book reading apps.
ComiXology's widely-adopted Guided View technology makes it easy to read and flip through comics, which apparently caught Amazon's attention. It wouldn't be much of a surprise to further Kindle Fire integration somewhere down the road. The company hasn't disclosed any details surrounding the acquisition, so we can't yet tell you how many Instagrams comiXology is worth. The deal is expected to close in the second quarter of this year.
Amazon.com to Acquire comiXology
SEATTLE--(BUSINESS WIRE)--Apr. 10, 2014-- (NASDAQ: AMZN)—Amazon.com today announced that it has reached an agreement to acquire comiXology, the company that revolutionized the digital comics reading experience with their immersive Guided View technology and makes discovering, buying, and reading comic books and graphic novels easier and more fun than ever before.
“ComiXology’s mission is to spread the love of comics and graphic novels in all forms,” said David Steinberger, co-founder and CEO of comiXology. “There is no better home for comiXology than Amazon to see this vision through. Working together, we look to accelerate a new age for comic books and graphic novels.”
“Amazon and comiXology share a passion for reinventing reading in a digital world,” said David Naggar,Amazon Vice President, Content Acquisition and Independent Publishing. “We’ve long admired the passion comiXology brings to changing the way we buy and read comics and graphic novels. We look forward to investing in the business, growing the team, and together, bringing comics and graphic novels to even more readers.”
Founded in 2007, comiXology offers a broad library of digital comic book content from over 75 of the top publishers as well as top independent creators. Following the acquisition, comiXology’s headquarters will remain in New York.
Terms of the acquisition were not disclosed. Subject to various closing conditions, the acquisition is expected to close in the second quarter of 2014.