Cafeyn Group has announced the acquisition of Readly’s non-Nordic operations, it says marking a significant step forward in its European expansion. This transaction enhances Cafeyn’s scale and reinforces its strategic objective to build a leading platform for digital news and magazine access, delivering value to both readers and publishing partners, the company continued. Following the transaction, Cafeyn says it will serve more than 2.5 million users and generate combined revenues of nearly €100 million, strengthening its scale and position across Europe.
Tidnings AB Marieberg (“Bonnier News”) has completed the transfer of Readly’s non-Nordic operations to Cafeyn Group, in line with the initial announcement made on December 5th, 2022. Readly’s Nordic operations remain owned and operated by Bonnier News, while activities outside the Nordic countries (notably in Germany and the United Kingdom) are now joining Cafeyn.
To ensure continuity for readers, the original Readly application will continue to be owned and operated by Bonnier News for the Nordic markets. Non-Nordic subscribers will transition to a new application managed by Cafeyn, which the company says will retain the “Readly” brand in these markets. This structure enables publishers to reach audiences across multiple markets through two complementary subscription platforms.
Laurent Kayser, CEO of Cafeyn, stated: “This acquisition marks a turning point for Cafeyn. In close partnership with Bonnier News, whom we sincerely thank for their support throughout the process, we are combining our strengths with Readly’s established positions to build a leading European platform for access to trusted information. This will allow us to deliver greater value to users, more sustainable revenues for publishers, and to support quality journalism at a time when access to trusted information has never been more important.”
Anders Eriksson, CEO of Bonnier News, added: “This agreement enables both parties to focus on their respective growth strategies. We now look forward to further developing and growing Readly in the Nordic markets, as an important and integrated part of our business, and would like to thank Cafeyn for their collaboration and engagement throughout the process. We are confident they now have a solid platform for driving growth in markets outside the Nordics.”
Cafeyn says this transaction illustrates its ambition to build a pan-European platform, capable of combining large-scale distribution, technological innovation and adaptation to local market specificities. It enables the Group to consolidate its positions in key markets, notably the United Kingdom, Benelux, and to accelerate its expansion in high-potential markets such as Germany.
The integration of Readly’s operations will expand the catalogue available to users, further enhancing the breadth and diversity of content accessible on the platform, while strengthening Cafeyn’s ability to deliver a compelling and comprehensive offering to its audiences, added the company.
For publishers, the fundamentals remain unchanged, continued the company. Cafeyn says it maintains the same principles of remuneration, distribution and transparency, while offering access to an international audience through a unified technological infrastructure. In a demanding economic environment, the ambition is to create greater value across the entire ecosystem.
The transition of operations will be carried out progressively, in close collaboration with the Readly teams, to ensure continuity of service for users, publishers and partners.
Cafeyn Group says it plans to welcome and retain 39 Readly talents and to leverage the complementarity of expertise to accelerate the development of its platform.
You can find out more about Cafeyn in our Publishing Services Directory.
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