Sleep analysis company Sleep Cycle is presenting a new strategic direction focused on the global wellness market in connection with the acquisition of Audiowell. The company is also presenting
Gustav Forssell, previously CEO of Audiowell, as its new CEO with immediate effect. This is stated in a press release.
The acquisition has been approved by an extraordinary general meeting and is expected to be completed within a couple of weeks.
The merged group will focus on growing the highly profitable music streaming business, returning the consumer apps to profitable growth and developing new services in health and wellness. The strategy also includes partnerships and further acquisitions of app and content companies.
In light of the new strategic direction, Gustav Forssell is taking over as CEO with immediate effect.
”Wellness is a growing market with clear structural drivers. With Sleep Cycle and Audiowell under the same roof, and with Gustav Forssell and a management team combining expertise in both media and technology, we have a strong starting point for building a group that contributes to this development”, says Andreas Källström Säfweräng, Chairman of the Board of Sleep Cycle.
