The world’s largest bookseller, Barnes & Noble, Inc., has acquired Fictionwise, a leader in the e-book marketplace, for US$15.7 million in cash.
Barnes & Noble said it plans to use Fictionwise as part of its overall digital strategy, which includes the launch of an e-Bookstore later this year.
Headquartered in New Jersey, Fictionwise was founded in 2000 by Steve and Scott Pendergrast. Barnes & Noble intends to keep Fictionwise as a separate business unit and the founders will continue to operate the business.
Barnes & Noble, Inc. is a Fortune 500 company, operating 799 bookstores in 50 states in the U.S..