Wirtualna Polska acquires Audioteka, 100% shares for almost €17M

Wirtualna Polska Media and Stacja Służew, part of the Wirtualna Polska Holding group, has finalized the acquisition of further shares and subscription warrants of Audioteka, an audiobook service. Wirtualna Polska will now hold 100% shares for almost €17 million (PLN 75 million), MamStartup reports.

• Audioteka is a Warsaw-based mobile and multi-language audiobook application for smartphones/tablets with a dedicated audiobook car platform. The company offers audiobooks in 9 languages in 23 countries.
• In September last year, Wirtualna Polska became the majority shareholder of Audioteka, owning 60% of the shares. 
• As part of the current transaction, Wirtualna Polska Media concluded an agreement with a natural person and KMB Fundacja Rodzinna for the purchase of shares in Audioteka for a total price of approximately €16.3 million (PLN 72.25 million).
• A conditional agreement on the purchase of further shares by Stacja Służew from another natural person for the price of €156,000 (PLN 0.69 million) also came into force. At the same time, the group also started the purchase of subscription warrants issued by Audioteka, authorizing their conversion into shares, for the total price of €385,000 (PLN 1.7 million).

“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 is used by over 200,000 people,”

Jacek Świderski, President of the Management Board of Wirtualna Polska Holding, comments.