Amazon to buy digital comics company comiXology

amazon to buy comixologyAmazon announced on Friday that it has reached an agreement to acquire comiXology, the New York-based digital comic book publisher that offers digital comic books from more than 75 publishers, including industry giants Marvel and DC, plus independent creators.

comiXology is said to have transformed the digital comics reading experience with its immersive Guided View technology and made discovering, buying, and reading comic books and graphic novels easier.

“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.

Shares of Amazon.com Inc. fell $14.79, or 4.5 percent, to $317, amid a broader market sell-off. The Dow Jones Industrial Average ended the day down 267 points or 1.6 percent.

Source-NDTV

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