iCast has been acquired by Storytel
The private shareholders of iCast Ltd. have sold the company to Storytel Sweden AB.
iCast is a provider of audio content intended for playback through their website or for download to a mobile device and offline listening. iCast offers music, science, technology, sports, family and Judaism content, which is uploaded to its website and mobile apps from a number of different sources. iCast is a first mover and leader in the emerging Israeli audiobook market. Originally founded and launched as a podcast service in 2006, the firm initiated its deployment into the audiobook arena in 2010, entering into agreements with local publishers before launching Israel’s first audiobook service the following year.
Storytel was founded in 2005 by Jonas Tellander and Jon Hauksson. After the merger with Massolit Förlagsgrupp in 2015 the company was listed on the stock market (Aktietorget). Today the Storytel Group consists of two business areas, streaming and publishing. Streaming is a subscription-based service, offering audiobooks and e-books under the Storytel brand. The service is currently available in Sweden, Norway, Denmark, the Netherlands and Poland. The publishing business consists of the publishing houses Massolit and B. Wahlstrom.
Oaklins’ team in Israel acted as lead advisor to the seller and the management of iCast in the preparation of the sale process and due diligence and assisted them until closing.
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