Acquisition

RNS Number : 9449P

Sainsbury(J) PLC

11 October 2011

 



11 October 2011

Sainsbury's acquires Global Media Vault Ltd from MBL PLC to support development of Sainsbury's Entertainment website

Sainsbury's has announced the acquisition of online entertainment company Global Media Vault Ltd (GMV) from MBL Group PLC for £1 million. The acquisition will support the retailer's drive into the growing online and digital entertainment market following the launch of the Sainsbury's Entertainment website in November 2010.

GMV is a white label online digital entertainment business operating with Sainsbury's as its main client. It began trading in January 2009 and has developed a unique entertainment ecommerce and digital media platform. GMV'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 GMV 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."

The UK entertainment market is worth £7.3 billion with the digital and online market in strong growth. The online market is expected to double in value by 2015.

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Enquiries:
Investor Relations	Media
Erica Judge	Mark Rigby/Ben Crowther
[phone]	[phone]

 

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