Penguin Random House completed the acquisition of Playaway Products from Spotify.

Penguin Random House, the world’s largest trade publisher, completed the acquisition of Playaway Products, a provider of pre-loaded physical devices delivering digital content to the educational and institutional markets, from Spotify, a proprietary Swedish audio streaming and media services provider. Financial terms were not disclosed. "Penguin Random House is the right strategic partner for Playaway Products. It was immediately apparent from the first conversations with the audio team that our cultures and vision align perfectly. We are committed to bridging the digital divide and providing access to top-quality audiobooks, children’s books, and apps via our devices. I’m eager to enter this new chapter together with our whole team, along with our customers and partners," Gene LaMarca, Playaway Products CEO.