Online e-book retailer Anobii, which has more than 600,000 global users, has been bought by Sainsbury’s for a mere £1.
Sainsbury’s bought HMV’s stake in Anobii, meaning the British supermarket will have a majority stake of 64 per cent in the e-book retailer.
“The investment in Anobii is a further step in Sainsbury's strategy to deliver digital services to support the growth of its online channel and commitment to multichannel retailing,” said Sainsbury’s in a statement.
The acquisition comes after the launch of Sainsbury's Entertainment in November 2010, the acquisition of online entertainment company Global Media Vault Ltd in October 2011 and the launch of its music download service earlier this year.
Anobii is a social e-books platform, which enables people to discover titles and purchase them to read on mobile and tablet devices.
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