Bonnier and Paltel Group are exiting Arabic audiobook platform Kitab Sawti in a cash-and-shares acquisition by StoryTel.
Online audiobook platform developer Storytel has bought Sweden-based, Arabic language-focused audiobook streaming service Kitab Sawti for an undisclosed sum, allowing media group Bonnier and telecommunications group Paltel to exit.
Founded in 2016, Kitab Sawti operates an online platform where users can stream a range of Arabic language audiobooks.
The cash-and-shares acquisition will allow Storytel to combine the company with its Storytel Arabia subsidiary to form a new division called Storytel MENA which will be led by Kitab Sawti co-founder and…
