Sainsbury’s has bought online entertainment company Global Media Vault for £1 million.
The acquisition will facilitate its drive to beat supermarket rivals to the online and digital entertainment market, following the launch of the Sainsbury’s Entertainment website in November 2010.
Global Media Vault’s digital database already includes over three million music, film and game assets for the UK market, all of which can be browsed, purchased and distributed via web, mobile, TV and kiosk applications.
Luke Jensen, Sainsbury’s group development director, said: "Online retailing and the delivery of digital content will play a key role in the future of entertainment so this is an important acquisition for Sainsbury’s. Taking full control of Global Media Vault Ltd will enable us to develop our existing Sainsbury’s Entertainment website even further enhancing the functionality and customer experience, meaning customers will soon be able to buy, rent or stream content from Sainsbury’s.
"The acquisition also represents a significant time saving when compared to building a platform from scratch ourselves. Securing this platform for Sainsbury’s Entertainment shows how we are constantly looking to innovate and seize opportunities that will support the future growth of our business."