Cafeyn enters into a strategic partnership with Bonnier News Group AB to seek to acquire the non-Nordic activities of Readly

Laura Demaison
  • Bonnier News Group AB, the largest news media company in the Nordics, announced a recommended public tender offer to the shareholders of Readly International AB, a Swedish Group that is one of the main digital media subscription platforms in Europe.
  • The independent bid committee of Readly International AB, unanimously recommends Readly International AB 's shareholders to accept the offer. The shares in Readly International AB are listed on Nasdaq Stockholm, Mid Cap.
  • Cafeyn Group has entered into an agreement with Bonnier News Group AB, to acquire the non-Nordic businesses of Readly International AB, conditional upon the completion of Bonnier News Group AB’s offer for Readly International AB.
  • A combination of Readly International AB’s non-Nordic activities with Cafeyn would lead to the creation of a European champion and a global leader in media streaming solutions outside of the Nordic region, with a significantly enhanced offering for both publishers and consumers.

Bonnier News Group AB, the largest news media company in the Nordics with over 200 brands and more than 2 million subscribers in total, today announced, through its wholly owned subsidiary Tidnings AB Marieberg (together “Bonnier News Group”) a recommended public tender offer to the shareholders of Readly International AB (“Readly”), a Swedish group that is one of the main digital subscription services in Europe. The independent bid committee of Readly unanimously recommends that Readly’s shareholders accept the offer.

In parallel to Bonnier News Group’s offer for Readly, Cafeyn and Bonnier News Group has entered into an agreement where Bonnier News Group, upon completion of the offer, will transfer the non-Nordic businesses of Readly to Cafeyn.

Readly is a unique asset and a strong brand, while Cafeyn has long been an established presence in the French and European media industry. Cafeyn partners with publishers to offer them additional monetisation avenues, promotes journalism and offers consumers a broad access to verified, diverse and high-quality information, in innovative formats. Its media streaming platform serves more than 2.5 million users globally and the Group has established collaborations with hundreds of publishers and content providers worldwide, offering access to newspapers, magazines, news feeds and other major pure player content brands. Cafeyn also has a unique experience and track record in inorganic growth, having successfully acquired and integrated various acquisitions in recent years, including Blendle in the Netherlands, Kidjo in the US and MiLibris in France.

The agreement with Bonnier News Group and a potential completion of Bonnier News Group’s offer for Readly provides the opportunity for Cafeyn to take a major step forward and significantly accelerate its growth and internationalization, leading to the creation of a European champion and an international leader in media streaming solutions for news and media brands, with a footprint in the largest European markets outside of the Nordic region, with a strong foundation for growth in North America.

The combined platform would aggregate more than 7,000 publications from across the world and offer innovative ways for customers to access media content amid profound changes in the ways of consuming news. It will play a key role in accelerating the digital transition of the media industry and allow publishers to monetise their content through an extended international customer base, with the objective of promoting quality journalism from a diverse range of trusted sources.

Cafeyn would be able to provide an optimal environment to ensure the success of Readly’s businesses outside the Nordic region, including the preservation of the trademark Readly where strategically justified.

Cafeyn is looking forward welcoming Readly’s talented employees and bringing together the best experts of the European media industry.

Ari Assuied, CEO of Cafeyn Group, comments: “Upon a completed offer and through the agreement with Bonnier News Group, Cafeyn would acquire Readly’s non-Nordic businesses and create a leading global player, with strong European roots, in streaming solutions for media content. A combination of Cafeyn’s and Readly’s respective businesses will be the best possible partner for publishers in their efforts to develop new monetisation opportunities and acquire new audiences.”

The separation of Readly's business as stipulated in the agreement between Bonnier News Group and Cafeyn, including planning the final structure for the transfer, will be made in close cooperation between the parties after completion of the transaction.

Any decisions on specific measures that Bonnier News Group and Cafeyn will take to integrate the different parts of Readly's business in their respective organisations will be taken based on a careful evaluation of the respective merged businesses after the offer has been completed.

Preliminary timetable for Bonnier News Group’s offer:

  • Publication of the offer document: 7 December 2022
  • Acceptance period: 8 December 2022 - 13 January 2023 
  • Commencement of settlement: 19 January 2023

For all information about the public tender made by Bonnier News Group AB, though Tidnings AB Marieberg, to the shareholders in Readly, please visit offer-to-read.com.

Read the french version of the PR.