Lovefilm Acquires Amazon Europe Rental Service5 Feb, 2008 By: Chris Tribbey
Amazon.com announced Feb. 4 that its Amazon Europe DVD rental service, which has customers in the U.K. and Germany, has been acquired by Lovefilm, one of Europe's largest online DVD rental operators.
“As one of Europe's largest online DVD rental businesses, Lovefilm is well established to serve customers' increasing demand for entertainment,” said Greg Greeley, Amazon's VP of European retail. “Our investment will enable Lovefilm to grow the business further and we are excited to be part of their future.”
Lovefilm CEO Simon Calver said: “Customers are faced with an astonishing array of choices in the entertainment world these days. Lovefilm International will ensure that Amazon Europe's customers get the best possible DVD rental service. We will be delighted to welcome all Amazon Europe customers to the Lovefilm service.”
As part of the agreement, Amazon Europe becomes Lovefilm's largest shareholder. The companies also have entered into a multiyear marketing agreement.
No staff reductions are expected from either company.