Readly has entered into an agreement to acquire all shares in Arcy from Bonnier News, the completion of the acquisition being subject to the approval of Readly’s shareholders.
Readly, listed on the Nasdaq First North Growth Market, is a digital subscription service that offers unlimited, “all-you-can-read” access to thousands of magazines and newspapers. Arcy operates a digital subscription service and currently has approximately 11,600 subscribers.. Arcy is also a content provider for Bonnier News’ +Allt offering, which has over 900,000 subscribers. The acquisition of Arcy strengthens Readly’s leading position in digital magazine and newspaper subscription services, and the acquisition is expected to significantly increase the Readly’s revenue and operating margin.
Bonnier News has also announced a public takeover offer to Readly’s shareholders to acquire all shares in Readly that Bonnier News does not already own. The total value of the public offer, based on shares in Readly that are not directly or indirectly owned or controlled by Bonnier News or its affiliates, is approximately SEK 218 million.
KANTER advised Readly on the transaction and the public offer.