CORRECTION: Storytel to acquire streaming service Audiobooks.com – entering the U.S. market
Correction refers to added details concerning enterprise value and financing of the acquisition. The Storytel Group (“Storytel”), one of the world’s largest audiobook and e-book streaming companies, has signed a definitive agreement to acquire Audiobooks.com from KKR for an enterprise value of USD 135 million on a cash and debt free basis. Audiobooks.com is one of the leading services for audiobook experiences in the U.S. With this acquisition, Storytel extends its trajectory of expansion and profitable growth to the largest English-language audio market in the world.Since launching in