Swedish audiobook company Storytel has acquired the 147-year-old family-owned Finnish publisher Gummerus, which publishes 200 titles a year.
Gummerus has a stake in Helsinki Literary Agency which will also be part of the deal. Turnover was €7.6m in 2018 with €0.3m profit. The current CEO Anna Baijars will continue in the role.
Storytel was founded in 2005 and has grown through acquisition of publishing companies across Scandinavia. It reached 1m paid subscribers in August 2019 across 18 markets including Germany and Brazil, its newest markets.
