Sainsbury's acquires Global Media Vault
Sainsbury's has bought the online entertainment company Global Media Vault from MBL Group for Â£1 million.
The company supplies Sainsbury’s online entertainment e-commerce platform. The retailer says the acquistion will support its drive into the growing online and digital entertainment market.
GMV began trading in January 2009 and now has a digital database of over three million music, film and game assets. Sainsbury's is the company's main client.
Commenting on the acquisition Sainsbury's group development director Luke Jenson 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."
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