Bonnier News completed the acquisition of Readly for $44m.

Bonnier News, a Swedish media group, completed the acquisition of Readly, a provider of subscription services for digital magazines, for $44m. "Readly has established a strong brand and a well-developed platform over the past decade. Bonnier News Group is the leading news company in Sweden and the largest media group in the Nordic region, and we see that a combination of own content and content from publishing partners is necessary to create a long-term sustainable business. We have a leading content offering and a reach that, combined with Readly's brand and well-developed platform, enables an enhanced experience for subscribers and thus a stronger offering for publishing partners. To facilitate Readly's continued development in markets outside the Nordic region, we have entered into an agreement with Cafeyn, which would become an industrial owner of these businesses. We are now offering the shareholders of Readly the opportunity to tender their shares for an attractive premium in a bid that is unanimously recommended by Readly’s independent bid committee," Anders Eriksson, Bonnier News President and CEO.