Wirtualna Polska Holding Group, a Poland-based holding company owning entities that are engaged in internet publishing and broadcasting content, has recently acquired Audioteka, a multi-language audiobook platform, in a deal worth nearly €17 million for 100% shares, according to a report.
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 per cent in Audioteka. The report further stated that 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.
Headquartered in Warsaw, Audioteka is a prominent player in the audiobook realm, boasting a mobile and multi-language application tailored for smartphones and tablets. The company caters to a diverse audience, offering audiobooks in an impressive array of 9 languages across 23 countries.
Speaking on the deal, the President of the Management Board of Wirtualna Polska Holding, Jacek Świderski, said:
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 over 200,000 people use.
The latest acquisition is expected to drive synergies between the two entities, fostering opportunities for cross-collaboration and expanding the reach of Audioteka’s extensive catalogue 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 closely monitoring 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 companies and audiobook fans.
Wirtualna aims to be a partner of the first choice who provides engaging information, entertainment and services and inspires in everyday decisions. The company’s e-commerce, advertising and media activities share the same crucial trait, i.e. modern technologies. Its services, platforms and systems are prepared based on current solutions that allow them to target individual groups of users precisely. The firm also operates across Central and Eastern Europe, i.e. in countries such as Hungary, Czech Republic, Romania, Croatia, Germany and Lithuania.