Top Line

Spotify said Thursday that it is acquiring audiobook platform Findway, which will allow it to create and distribute audiobooks, as it moves to move beyond music streaming.

important facts

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Spotify, which did not disclose the purchase price, said it expects to close the deal by the end of the year, pending regulatory approval.

Findaway boasts more 350,000 Audiobook titles from major publishers and freelance authors in over 80 languages.

even to find provides A platform for independent authors to connect with storytellers to turn their books into audiobooks that can then be distributed around the world, which Spotify said it plans to build.

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