Storytel to acquire Kitab Sawti.

Storytel, a provider of audiobook and e-book streaming services, agreed to acquire Kitab Sawti, an audiobook streaming service in the Middle East and the Arabic speaking world. Financial terms were not disclosed. “I am really thrilled and excited about the great opportunities that the combination of Storytel and Kitab Sawti will offer Arabic consumers, publishers and authorships. Online media consumption is booming in the Middle East, as is the confidence local consumers are showing in digital products and payment solutions. The positive trend in customer interest for audiobooks that we presently see in the region, clearly indicates the big potential. And this potential is also reflected in the leading combined skills and experiences of Storytel’s and Kitab Sawti’s amazing local Arabic teams," Jonas Tellander, Storytel CEO and Founder.