Mergers & Acquisitions
Storytel, the international audiobook streaming company, is buying Audiobooks.com from KKR, owner of RBMedia, for an undisclosed amount. This marks the fast-growing company's entry into the English-language audiobook market.
Looking to accelerate its expansion into the audiobook market, the Swedish audio streaming subscription service giant Spotify has agreed to acquire Ohio-based digital audiobook distributor Findaway for an undisclosed price.
The makeover of Follett Corp. continues with the announcement that it has sold Baker & Taylor to a private investment company led by Aman Kochar, B&T CEO and president.
Independent Publishers Group has acquired U.K.-based United Independent Distributors. IPG CEO Joe Matthews called the deal a “game-changing acquisition,” and one that will make IPG one of the world’s largest book distributors for indie publishers.
The Hachette Book Group has completed its $240 million acquisition of Workman Publishing. Workman will become HBG's eighth publishing group and will be led by Dan Reynolds, who had been its CEO.
French conglomerate Vivendi appears headed to win control of Lagardère, owner of Hachette Livre. Vivendi already owns the French publisher Editis, and has been looking to increase its presence in book publishing.
Capstone, publisher of children’s books and K-5 ed-tech content, has acquired Buncee, a digital creation, collaboration, and communication tool for students and educators.
Follett Corp. has sold its K-12 software and content division, Follett School Solutions, to the investment firm Francisco Partners. Britten Follett, who remains in a leadership role at FSS, said that the deal gives the company more funding to expand in the educational technology space.
Workman Publishing, one of the largest and most distinct independent publishers in the country, will be acquired for $240 million by the Hachette Book Group in a deal that is expected to be approved in September.
After receiving a second notice for information from the FTC, Clarivate said it has extended the deadline for completing its $5.3 billion purchase of ProQuest from November 8, 2021, to December 31, 2021.