Spotify is poised to become the foremost platform for podcast creators as well as leading producer of podcasts with these acquisitions.

Spotify Technology SA, the music streaming services company has been recently reported to have signed definitive agreements to acquire renowned independent podcast content producer, Gimlet Media Inc. and Anchor, a market leader in podcast creation, publishing and monetization services.

Terms of the transactions have not been made public. The transactions are anticipated to be closed in Q1 2019 while being subject to customary closing conditions.

Reportedly, Spotify will now become the foremost platform for podcast creators as well as leading producer of podcasts with these acquisitions. While dedicated IP development, best-in-class podcast studio, excellent advertising and production capabilities will be brought by Gimlet, a wide platform of podcast creation tools and established creator base will be supplied by Anchor.

Daniel Ek, CEO and co-founder, Spotify, was quoted saying that Spotify is looking forward to seeing what it can accomplish together with Anchor and Gimlet as the acquisitions will help to accelerate Spotify’s progress as an audio platform, improve quality of its listening experience and also give users access to best-in-the-class podcast content.

Matt Lieber and Alex Blumberg, Gimlet Media co-founders have been reported to say that the are excited to connect Gimlet’s award-winning podcasts with new audiences across the globe as Spotify progresses on its path of becoming the largest global audio platform. They added that Gimlet’s joining Spotify will be a great advancement for the audio medium which is unique for creating great human connection. Apparently, joining Spotify will help Gimlet to further this connection on a global scale.

Michael Mignano, CEO, Anchor, reportedly said that as the company continues its journey with greater resources, Anchor is looking forward to introducing its industry-leading podcasting tools to the massive user base that Spotify boasts of. Mignano added that Anchor wants to empower creators across the globe while generating revenue, building an audience and having their voices heard.