Amazon Buys iPhone E-Reader App Maker
In a bid to extend e-reader reach beyond Kindle, the mega-etailer scoops up firm behind the most popular eBook reader application for Apple's iPhone.
Amazon now controls the two top e-book applications for the Apple iPhone, following its acquisition of Stanza developer Lexcycle -- a move that extends the e-tailing giant's reach in the e-reader market beyond its own Kindle.
Lexcycle's free Stanza app for Apple's (NASDAQ: AAPL) iPhone and iPod touch claims more than 1 million downloads. The app provides access to a catalog of about 100,000 e-books in the open ePub format, which isn't supported by Amazon's (NASDAQ: AMZN) digital reader device, the Kindle.
"It's very early days for e-books and we believe there is a lot of innovation ahead of us," an Amazon spokesperson told InternetNews.com. "Lexcycle is a smart, innovative company and we look forward to working with them to innovate on behalf of readers. Lexcycle will maintain its business model while continuing to innovate as new opportunities arise."
She declined to comment on financial terms of the deal.
Any ideas what price Amazon paid for it?