Amazon to acquire comiXology
Amazon has recently announced that it plans to acquire comiXology, maker of digital comic book technology, though the terms of the agreement were not disclosed.
ComiXology's technology makes it possible to read comic books in a digital format, and it has been a popular download for Apple's iPad. The company's "Guided View" technology creates an "immersive and cinematic experience" for users, according to a press release on comiXology's Tumblr.
In 2007, comiXology made deals with comics publishers, enabling the company to sell digital versions of comic books. According to an article in Business Insider, comiXology's app was a top-grossing app for Apple's iPad. From 2011-2013 it ranked highest for a non-game app. The company features a digital library of comic books from independent creators and top publishers. Now Amazon is planning to acquire the company by the end of Q2.
"Amazon and comiXology share a passion for reinventing reading in a digital world," said David Naggar, Amazon Vice President, Content Acquisition and Independent Publishing in a press release on comiXology's Tumblr. "We've long admired the passion comiXology brings to changing the way we buy and read comics and graphic novels. We look forward to investing in the business, growing the team, and together, bringing comics and graphic novels to even more readers."
According to Business Insider, comiXology's sales have tripled since the company started in 2007. Now that consumers are able to purchase books and magazines in digital formats, it makes sense that Amazon would be interested in comiXology's technology. Business Insider draws a comparison between newsstands where comic books used to be sold, and Amazon being like a digital newsstand. This acquisition strategy could create a big opportunity to continue the renewed interest in comics as they will reach a wider audience through Amazon.