In an exciting development for the audiobook industry, Wirtualna Polska Holding Group has recently completed the acquisition of Audioteka for a staggering €17 million, Tech.eu reported. This strategic move solidifies Wirtualna Polska’s position in the market and marks a significant milestone in its expansion plans.
The acquisition process kicked off in September 2022 when Wirtualna Polska Holding Group, comprising Wirtualna Polska Media and Stacja Służew, secured a majority stake of 60 percent in Audioteka. The deal included provisions for the purchase of the remaining shares and subscription warrants, culminating in Wirtualna Polska Holding Group now holding full ownership of the audiobook company.
Audioteka, headquartered in Warsaw, stands as a prominent player in the audiobook realm, boasting a mobile and multi-language application tailored for smartphones and tablets. Notably, the company caters to a diverse audience, offering audiobooks in an impressive array of 9 languages across 23 countries.
“Audioteka is a well-managed product in the rapidly growing category of audio services. Thanks to this acquisition, we diversify the revenues of Wirtualna Polska Media with another, next to WP Pilot, subscription service, which is used by over 200,000 people,” said Jacek Świderski, President of the Management Board of Wirtualna Polska Holding.
The deal is expected to drive synergies between the two entities, fostering opportunities for cross-collaboration and expanding the reach of Audioteka’s extensive catalog of audiobooks. Furthermore, customers can anticipate an improved and seamless user experience as the integration process gains momentum.
As Wirtualna Polska Holding Group embraces this new chapter in its journey, industry enthusiasts are keeping a close eye on the company’s future ventures and the potential impact it will have on the global audiobook ecosystem. The deal undoubtedly opens doors to exciting possibilities in the digital content realm, benefiting both companies and audiobook aficionados alike.
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