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Press Release: Axiell [March 14, 2023]

Axiell announces agreement to divest Axiell Media to Publizon

Lund, Sweden, 14 March, 2023 Axiell, the world's leading software and services provider for the cultural sector, today announces an agreement to divest Axiell Media AB, a business within Axiell and the leading provider for distribution of e-media and streamed media in Sweden and Finland, to Publizon A/S. The divestment is expected to be fully executed in March.

Axiell Media creates access to digital books, across all platforms, in Sweden and Finland. The company was acquired by Axiell in 2015 and has since grown to serve more than 1000 publishers, distributing e-books and streamed books to retailers, libraries and schools in Sweden and Finland.

The acquisition is driven by Axiell's expansion strategy of focusing and investing in its software and services offer in the libraries, archives and museums industry. The divestment also advances Axiell's financial position. The divestment creates a new position for Publizon with Axiell Media where it can operate as a leading distribution platform for digital literature for publishers in the Nordics.

"Axiell Media has developed well during its time within Axiell, maintaining its position as a key partner to publishers, retailers and libraries, in a market which is constantly moving and being consolidated. Alongside the leadership team at Axiell Media, I am proud of how we have managed Axiell Media from a business perspective, where we have made investments in the offering at a pace the company could manage while being able to keep the company profitable," says Joel Sommerfeldt, President and CEO of Axiell Group. "I am thrilled that we have found a way to move the e-media and streamed books market forward the way it deserves, and that we have found a new owner that can continue that journey."

Publizon is the Danish distributor of digital literature, serving all Danish publishers and retailers, and covers all public libraries in Denmark through the digital library platform, eReolen.

"We are excited to add the competences and portfolio from Axiell Media to Publizon, creating a rock-solid Nordic foundation for publishers all over the region for their digital distribution of literature. This will open new possibilities for much easier access to foreign markets that previously have been hard to reach for publishers. We will continue to invest in developing a world class digital distribution platform that will benefit not only publishers but also all resellers and public vendors, especially libraries and schools," says Lasse Nyrup, CEO at Publizon A/S.

No further information about the transaction is disclosed.

About Axiell

Axiell's solutions help institutions share culture and knowledge with the world. Our software and services assist them to manage their collections, encourage reading, preserve cultural heritage, improve learning and increase engagement with the public. Our customers are libraries, museums, archives, schools, publishers and retailers in 60 countries. We develop innovative digital tools to transform the way they work and connect with their audiences. We do this from offices in 15 countries, with headquarters in Sweden.

About Publizon

Publizon is the Danish publishing industry's digital distributor, ensuring reliable processing and distribution of digital literature between publishing houses, sales channels, libraries and schools. In 2003 Publizon will expand its geographical presence and support the publishing industry's digital needs throughout the Nordic countries, and offer easier and cheaper distribution, while supporting the publishing industry's growing internationalization.


Summary: Axiell, the world's leading software and services provider for the cultural sector, announced an agreement to divest Axiell Media AB, a business within Axiell and the leading provider for distribution of e-media and streamed media in Sweden and Finland, to Publizon A/S. The divestment is expected to be fully executed in March. Axiell Media creates access to digital books, across all platforms, in Sweden and Finland. The company was acquired by Axiell in 2015 and has since grown to serve more than 1000 publishers, distributing e-books and streamed books to retailers, libraries and schools in Sweden and Finland.
Publication Year:2023
Type of Material:Press Release
LanguageEnglish
Date Issued:March 14, 2023
Publisher:Axiell
Company:
Company: Axiell
Subject: Mergers and acquisitions
Permalink: https://librarytechnology.org/pr/28616/axiell-announces-agreement-to-divest-axiell-media-to-publizon

DocumentID: 28616 views: 395 Created: 2023-03-14 06:57:14 Last Modified: 2023-03-27 04:11:22.