The main goal of the investment is to enter the Baltic market as well as further develop the company’s technology platform and services, providing customers with modern solutions for e-books and audiobooks.
The Estonian Digital Book Centre (EDRK) has pioneered the market for e-books and audiobooks since 2009 when it started selling e-books in cooperation with resellers Rahva Raamat and Apollo. New solutions for publishers and readers are constantly being developed to make reading as accessible and comfortable as possible.
In cooperation with telecoms provider Elisa, EDRK launched a subscription-based reading model and a self-reader for listening to e-books, and together with Tallinn Central Library, the first e-book lending platform in Estonia, was developed. The Estonian Digital Book Centre’s IT platform is also used in Lithuania.
Oliver Kullman, Partner at BaltCap, comments on the investment: “EDRK has a relevant role in the Estonian market as the forerunner of book digitalization. We see growth opportunities across the entire value chain, which we believe will benefit all market participants. I trust BaltCap’s long-standing experience in developing businesses in the Baltics and its extensive international network provide new windows for growth to EDRK.”
Ain Lausmaa, the CEO of EDRK, further comments on the way forward: “In cooperation with BaltCap, we plan to expand our activities in the Baltics and bring new features to the Estonian market. There will be no changes in the management of the Estonian Digital Book Centre; we will continue being a reliable partner for publishers, resellers and libraries.”
BaltCap entered through its Private Equity Fund III, which acquired 43% of the company.