Barnesandnoble.com Plans to Buy Bookseller Fatbrain.com

Barnesandnoble.com Inc. said it will buy technology and business bookseller Fatbrain.com Inc. for $64 million in stock and cash. Barnesandnoble.com has been buying companies and adding services as it strives to catch up with Amazon.com Inc., the largest online bookstore. The company said the acquisition would help it expand its sales to corporate customers.

Barnesandnoble.com said it will pay the equivalent of $4.25 in cash and stock for each Fatbrain.com share. Barnesandnoble.com will pay 75% in stock and the rest in cash. Fatbrain shares, which have fallen more than 82% this year, closed up 58 cents at $4.39 on Nasdaq. Fatbrain.com sold shares to the public at $10 each in November 1998 and has not had a profitable quarter as a public company.

Barnesandnoble.com said Fatbrain.com’s office will remain in Santa Clara, Calif., and that Dennis Capovilla, president and chief executive, will remain with the company. Shares of New York-based Barnesandnoble.com fell 25 cents to close at $4.38 on Nasdaq.