Sainsbury’s has announced the acquisition of Global Media Vault, an online digital entertainment business, in a deal worth £1m. The supermarket group, which is GMV’s main client, said the acquisition will allow the company to develop and expand its digital entertainment offer, allowing customers to buy, rent or stream content from Sainsbury’s. GMV, which creates white-label websites, began trading in January 2009 and now has a digital database of over 3m pieces of music, games and films, which can be bought via the internet, mobile, kiosks and interactive TV.
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." He added: "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."
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." He added: "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."
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