Barnes and Noble Opening eBook Store After Acquisition

Barnes & Noble has purchased Fictionwise, the company that owns eBookwise and eReader for $15.7 million in cash. Barnes & Noble said it plans to use Fictionwise as part of its overall digital strategy, which includes the launch of an e-Bookstore later this year. In addition to the closing purchase price, Fictionwise may receive earn out payments for achieving certain performance targets over the next two years.

Fictionwise, released the free eReader eBook Application for the iPhone and iPod Touch last July which was a major hit with book worms. Currently there are nearly 50,000 titles available at eReader.com and Fictionwise.com, including best selling titles from Stephen King, Mary Higgins Clark, Michael Crichton, Ann Rice, James Patterson, Harlequin Romance, and thousands of others.

Could B&N have a eBook Reader like the Kindle in the works? Perhaps but first things first, setup an eBook store! B&N said it would probably be in place sometime later this year.