to Acquire

Feb 01, 2008

      Bookmark and Share, Inc. has reached an agreement to acquire Audible Inc. is an online provider of premium digital spoken word audio content, specializing in digital audio editions of books, newspapers and magazines, television and radio programs, and original programming. Through its websites in the US and UK and alliances in Germany and France, offers over 80,000 programs, including audiobooks from authors such as Stephen King, Thomas Friedman, and Jane Austen, and spoken word audio content from sources including The New York Times, The New Yorker, Fresh Air, and Charlie Rose.

Under the terms of the agreement, 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 approximately $300 million which includes's cash and short-term investments at closing. The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close by the second quarter of 2008.