to acquire

0 has reached an agreement to acquire Audible Inc., an online provider of digital spoken word audio content, specializing in digital audio editions of books, newspapers and magazines, television and radio programs and original programming.

In recent months, Amazon has announced a number of innovations in the digital space, including Amazon Kindle, a revolutionary wireless portable reader that provides instant wireless downloads of more than 90,000 books, blogs, magazines and newspapers to a crisp, high-resolution electronic paper display.

Under the terms, will commence a cash tender offer to purchase all of the outstanding shares of for 11.50 per share and will assume’s outstanding stock-based awards, for an aggregate transaction value of 300 million which includes’s cash and short-term investments at closing. The acquisition is expected to close by Q2.