MANILA, Philippines – Amazon.com announced Thursday, March 28, that it reached an agreement to acquire Goodreads, the social reading and book review website.

There was no mention of the deal’s worth nor its structure and other financial details.  

Russ Grandinetti, Amazon’s Vice President for Kindle Content, held much praise for Goodreads, saying that the site “helped change how we discover and discuss books.”

He added that both Amazon and Goodreads “have helped thousands of authors reach a wider audience and make a better living at their craft. Together we intend to build many new ways to delight readers and authors alike.”

In an interview with PaidContent.org, Otis Chandler, the CEO of Goodreads, mentioned that aside from “customizations and better integrations for people who do use Kindle,” Goodreads will basically stay the same.

Otis Chandler’s blogpost on Goodreads explains it similarly, saying that the site “will continue to be the wonderful community that we all cherish. We plan to continue offering you everything that you love about the site — the ability to track what you read, discover great books, discuss and share them with fellow book lovers, and connect directly with your favorite authors — and your reviews and ratings will remain here on Goodreads. And it’s incredibly important to us that we remain a home for all types of readers, no matter if you read on paper, audio, digitally, from scrolls, or even stone tablets.”

The acquisition of Goodreads is expected to close in the second quarter of 2013. – Rappler.com