“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 and 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 specialises in magazine and newspaper apps for clients in the UK, Europe, US and Canada, including clients like Aston Martin, Lusso and Fine Cooking.
The transaction was signed and closed in December.
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