Penguin Random House Australia has sold Bookworld, the online bookseller that operates two sites based on the former Borders Australia and Angus & Robertson assets, to their larger rival Booktopia. The sale is expected to increase Booktopia’s sales from $54 million (AU) in 2014 to an estimated $90 million by the end of 2015. Amazon is thought to sell $250 million to $300 million of books to Australia annually. Terms were not disclosed but PRH Australia had “paid less than $5 million for the assets of Borders and A&R after the collapse of their parent, REDgroup Retail,” rebranding as Bookworld the following year. […]
