Barnes & Noble Acquires Fictionwise For $15.7 Million
Barnes & Noble, Inc. (NYSE:BKS) has acquired Fictionwise, an ebook company for $15.7 million. This gives Barnes & Noble a chance to compete online. Barnes & Noble will also payout Fictionwise over the next couple of years based on performance. Fictionwise will remain as an independent division until the deal closes. Steve and Scott Pendergrast, founders of the company will remain in their current positions.
[via AP]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry