Sainsbury’s moved into eBook retailing today with the purchase of HMV’s stake in online retailer and social network Anobii Limited.
The Anobii service allows readers to research titles and purchase them to read on a range of e-readers, smartphones and tablets.
Readers can review and rate books and share recommendations with the site’s 600,000 users.
HMV had retained Anobii following its sale of the Waterstones book chain last year.
The supermarket is paying just £1 in a deal which gives it 64% of the company. The remaining shares are owned by publishers Penguin, HarperCollins and Random House Group (UK).
Mark Bennett, Sainsbury’s Head of Digital Entertainment, said: “Anobii’s innovative use of social media is a clear differentiator. This acquisition is a valuable addition to our digital portfolio and shows our commitment to becoming a key player in the digital entertainment market.
“It further demonstrates how we are constantly looking to innovate and seize opportunities that will support the future growth of our business. We’re excited about working together with the Anobii team and our fellow shareholders in supporting Anobii to become a leading retailer of e-books.”