Otava Publishing Company is acquiring Karisto’s publishing business. Karisto is known for books such as Lee Child’s Jack Reacher thrillers, Anneli Kivelä’s novels about Katajamäki, and the “Geo Detectives” series of children’s books by Johanna Hulkko and Jari Paananen.
Established in 1900, Karisto is a Finnish general publisher that operates out of Hämeenlinna. Karisto publishes both fiction and non-fiction, including children’s and YA books. Its list includes both Finnish originals and translations into Finnish. Karisto releases about a hundred new titles every year.
“This acquisition forms part of Otava’s strategy, in which we’re seeking growth through businesses that will supplement our current publishing programme. Karisto’s programme also has a lot to offer in terms of the growing market for audiobooks,” says Otava’s Managing Director Pasi Vainio.
“The acquisition will provide us with the synergies and expert resources that we’re looking for, and that will be required by the very rapid growth in audiobooks in particular,” says Mika Kotilainen, Managing Director of Karisto.
The agreement will transfer Karisto’s entire publishing business to Otava. Karisto will continue to publish under the Karisto name, while its employees will transfer to Otava Publishing Company. The agreement will come into force on 1 February 2020.
The transaction will not include the Alfamer and Karistopap businesses.
For more information, contact:
Otava Publishing Company: Pasi Vainio, Managing Director, +358 (0)50 032 9591 email@example.com
Karisto: Mika Kotilainen, Managing Director, +358 (0)500 726 698 firstname.lastname@example.org