EQT’s Public Value division has acquired 6.6 million shares of Stockholm-based audiobook and e-book streaming service, Storytel. This purchase represents 9.7% of shares outstanding, which would value the deal at just shy of €138 million.
Founded in 2005 by Jonas Tellander, Storytel joined the NASDAQ First North in 2018, and has demonstrated a track record of organic and inorganic growth, even in the face of that “other” audio and e-book provider.
The company offers over 700,000 titles to consumers in 25 markets around the globe, streaming under the brands Storytel and Mofibo and publishing via StorySide and reputable Nordic publishing firms including Norstedts, People’s and Gummerus.
Subject to approval, EQT’s Joakim Rubin will join the board of directors at Storytel.