Audio streaming company Storytel is to buy the KKR-owned Audiobooks.com in a deal valuing the company at $135m. Audiobooks has a library of over 250,000 titles which can be streamed and downloaded via the US-focused Audiobooks app. The portfolio will supplement Storytel’s catalogue of 700,000 titles which is more successful across northern Europe. Audiobooks.com was launched in 2011 and its acquisition marks a push into English language market for Storytel which already has a subscriber base of 1.7m across 30 languages. The deal is expected to complete this year.
Storytel buys $135m Audiobooks
