It must be celebrations all round at Lovefilm Towers as the company sells its outstanding shares to Amazon at a valuation for the company of £200m.

As regular readers of this blog will know, I've been a long term fan of Simon Calver and his team, even if less enamoured of the service and especially the technology that was behind it, which used to creak and groan.

The mere fact that Lovefilm persuaded Amazon to adopt them instead of their own nascent hire service in Europe shows how well the company has done, and the technology and user experience has improved considerably of late.

It's great to see a UK technology company creating such value in a tough marketplace.