Amazon to acquire Audible for $300 million

Reuters reports that Amazon.com said on today that it reached an agreement to buy Audible.com for US$11.50 a share, in a deal that Amazon values at about $300 million, including Audible’s cash and short-term investments. “Under the agreement, Amazon will start a cash tender offer to purchase all of the outstanding shares of Audible, and will assume Audible’s outstanding stock-based awards. The pact includes Audible’s cash and short-term investments. It has about 160 employees with headquarters in Newark, New Jersey, and an office in London, England, with 15 employees.”