Amazon to Acquire European DVD Service

Published by: Frank Galvano on 20th Jan 2011 | View all blogs by Frank Galvano

Amazon to Acquire European DVD Service

Amazon has reportedly agreed to acquire Lovefilm, a European online movie streaming and DVD service. Terms of the deal have not been disclosed.

Lovefilm, often referred to as the Netflix of Europe, has more than 1.4 million subscribers in the UK, Germany, Norway, Sweden, and Denmark. The company has been working with Amazon since 2008 when it bought Amazon's DVD service. Lovefilm offers streaming video and mail order rentals of video games and DVDs.

According to a report from the BBC, the move will put Amazon in direct competition with Netflix's planned overseas expansion. Netflix currently operates only in the US and Canada. A press release from Lovefilm indicates the deal will close sometime in the first quarter of this year.

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