MILAN, January 26, 2016 /PRNewswire/ --
Paperlit Eyes Global Expansion With Purchase of London-Based Tech Firm
Paperlit announced today that it has completed the purchase of Stonewash Limited, a privately-owned digital publishing service based in London, England, for an undisclosed amount. With the acquisition, Paperlit strengthens its leadership position as a digital publishing solution for magazines and newspapers by significantly expanding the company's global footprint.
"The acquisition of Stonewash is an important step in the execution of Paperlit's strategy to expand internationally and underlines our leadership in an evolving market", said Paperlit CEO & President, Luca Filigheddu. "This purchase cements our position amidst increased global competition and represents a key growth strategy as we evaluate other acquisition opportunities to further consolidate our leadership within the digital publishing solution industry."
"Stonewash's legacy of meeting publisher needs through innovation is very well aligned with Paperlit's strategic direction," added Daniel Sharp, co-founder of Stonewash. "We are happy that the work we've done with our clients over the past six years will be continued to the highest standard, by a company as committed to the digital media space as we are."
Stonewash was founded in 2009 as a spin-off of London-based digital agency DD&AG Ltd and specializes in magazine and newspaper apps for clients in the UK, Europe, US and Canada, including clients like Aston Martin, Lusso and Fine Cooking.
While the purchase allows Paperlit to establish a more significant footprint in countries strategically targeted for expansion, it also grants new clients access to a wider array of services, including interactive content publishing, analytics, advertising and app marketing tools.
The transaction, which was signed and closed in December, follows Paperlit's merger with innovative DIY mobile app building software AppsBuilder and reinforces the company's app development know-how.
Paperlit is a full stack solution that enables publishers to create, distribute & monetize digital editions of print content with a branded mobile app. Founded in Menlo Park, California in 2009, and now based in Europe, Paperlit is used by over 100 publishers in more than 20 countries, including Disney, Hearst Magazines, Vanity Fair and Condé Nast. For more information: http://www.paperlit.com
SOURCE Paperlit Srl