Riidr.com has been sold to the Danish media company JP / Politiken Hus. The size of the deal has not been disclosed. The deal is not a full exit, rather it is Pubfront, the tech company behind Riidr, that has sold it’s B2C business arm and the brand, Riidr. Pubfront aims now to concentrate fully on software development across national borders, and it’s B2B business.
“Riidr.com have been able to show a significant increase in annual growth rates and was among the first e-bookshops in Denmark. We now have the opportunity to focus on our core business, namely the development of software in the delivery of digital content.” says Anders Breinholst at Pubfront
The deal with JP / Politikens Hus means that Pubfront will continue to supply the technology for Riidr, as well as Schibsted’s ebook-services in Norway and Sweden. Schibsted will also remain a shareholder of Pubfront, with a 10 percent stake.
“Riidrs technology platform is unique because it puts users first. It makes it easy to read the same e-book on many different devices, and you can easily buy an e-book, whether you are using tablets, e-readers or Amazon’s Kindle. With the acquisition of Riidr.com we strengthen our position in the e-book market, a market we have high expectations of.” says Stig Kirk Ørskov, CEO of JP / Politiken Hus.
The founders will remain at Pubfront, and it’s focus will be on further expansions.
“It’s a great day at the office. We have been working hard at this deal for a while, and it feels great to finally make it public. This deal will focus our company and help bring our ebook platform to new markets.” Anders said.
“In the longer term, we see our platform used to power services in many countries, as it goes hand in hand with the media companies needs for digital content. We see the sales of Riidr as just the start of our journey.” Anders concludes.