The online retail giant has agreed to pay about $1 billion to acquire ebooks publisher Ebooks Publishing, which it previously purchased for $1 in 2014, according to people familiar with the matter.
The deal is the biggest acquisition of a U.S. publisher by Amazon in years, according the people, who spoke on condition of anonymity because they weren’t authorized to speak publicly.
Amazon has been acquiring books and ebooks for more than a decade, and it has also tried to boost its library of more than 1 billion titles.
Amazon had about 1 billion books on its bookshelves as of March, the people said.
The purchase, which is subject to customary closing conditions, will create the world’s largest online bookstore and e-book store with about 40 million titles, including some by top-selling authors, the People said.
Ebooks Publishing was founded in 2004, and Amazon acquired the company in 2014 for about $900 million.
It had more than 6,500 stores in 31 countries, according its website.
It published books by including Robert B. Lee, Ernest Hemingway, Stephen King, William Faulkner and Michael Crichton.
Amazon declined to comment.