) recently acquired a cloud-based digital comic bookstore,
comiXology. However, the financial details were not made public.
The acquisition is likely to close in the second quarter of 2014.
comiXology will preserve its brand and continue to operate as an
Amazon subsidiary after the closure.
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comiXology, founded in 2007, modernized the comic book and
graphic novel business by offering a cloud-based digital comics
platform. The service has made the comics experience easier and
even more enjoyable. It allows users to read comics on the web,
) iOS, Android, Kindle Fire and
) Windows 8 and already has a huge customer base. comiXology
provides vast digital comic book content of almost every genre,
from action to horror to comedy, from over 75 publishers,
including Marvel and DC. It has been declared as one of the best
apps for iPad.
With this acquisition, Amazon's broad library, consisting of both
physical as well as e-books of different genres, will now feature
comic books. This will help the online retailer to establish
traction in the comic books market by offering improved digital
comic books and graphic novels and attract more consumers.
Moreover, Amazon will gain comiXology's Guided View technology,
which offers customers a panel view. The comics appear
frame-by-frame just as they would in print and offer a
real-life-like experience on mobile devices.
Amazon has been venturing into different devices in order to
boost its digital media sales. The online retailer plans to
launch an Android-powered game console later this year.
Furthermore, it recently released an Android-based Internet
video-streaming set-top box named Fire TV powered by
) Android software.
Fire TV will help to grow Amazon's video sales and attract new
users. Also, the breadth of content and sensible pricing strategy
will immediately place the online retailer in the same league as
Apple TV and Roku.
Currently Amazon carries a Zacks Rank #3 (Hold).