Audio streaming and media services provider Spotify Technology S.A. (SPOT) recently revealed that it has entered into a definitive agreement to acquire digital audiobook distribution company Findaway. The financial terms of the deal, which is expected to close in the fourth quarter of 2021, have been kept under wraps. Implications of the Deal With Findaway in its portfolio, Spotify will strengthen its presence in the audiobooks space, which has seen robust growth in recent times. The acquisition will allow Spotify access to Findaway’s technology infrastructure, which will enable the company to scale its audiobook offerings.
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