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Sameday buys Country Bookshop

23.07.07 Philip Jones

Samedaybooks has bought Country Bookshop, the online bookselling business and community website for £500,000. The deal does not include the shop, but does include Country Bookshop founder Sridhar Siddegowa, who will join the Samedaybooks management team in order to provide "strategic advice on e-commerce activities across the company".

It is Charles Denton's first acquisition since taking a controlling stake in the troubled retail business earlier this year. Denton, deputy chairman of Samedaybooks, said: "This is our first strategic investment to accelerate our expansion of the company. Countrybookshop.co.uk was a pioneer of online bookselling with a well established brand name, valuable technology, community website software and an extensive customer database. We quickly aim to integrate the business into the Samedaybooks platform to deliver a step change in our growth."

The deal will see the owners receive £250,000 in cash and £250,000 worth of equity in Samedaybooks. The deal does not include the retail outlet or the Peak Book Festival.

Siddegowa said: "I am extremely pleased to have found a home for our business that will allow us to spend more time developing our e-commerce ideas and the social networking side under the new concept, Booksconnect.co.uk. We are also in discussions with potential partners to extend our platform into the Indian market."

Philip Jones Country Bookshop Samedaybooks Charles Denton

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