Penguin Random House Biz Acquisition of Playaway Products

As of April 1, 2020, Bertelsmann has taken full ownership of Penguin Random House, the world's largest trade book publisher. With over 10,000 employees globally, the company is dedicated to igniting a universal passion for reading by creating books for everyone.

This acquisition marks an exciting new chapter in the company's history. We are committed to bridging the digital divide and providing access to top-quality audiobooks, children's books, and apps via our devices. Our mission is to make the best content available to the widest audience of readers and listeners.

We have a long-standing relationship with Playaway Products, a leading provider of pre-loaded physical audiobook formats. In 2005, they invented the market for these formats with their Playaway audiobook player, and since then, they have expanded their innovative portfolio to include Wonderbook read-alongs, Launchpad learning tablets, and Lock eReaders.

As part of this acquisition, Gene LaMarca, CEO of Playaway Products, will continue to lead the company as a stand-alone entity based in Solon, OH. Torin Cone, VP of Sales & Marketing, will continue to lead the sales and marketing teams. LaMarca will report to Amanda D'Acierno, President & Publisher of Penguin Random House Audio.

Both companies share a strong belief in the power of audio storytelling and increased accessibility to digital content, particularly within schools and libraries. We are excited to work even more closely with the Playaway Products team to fuel their future growth.

We believe that this acquisition will bring new opportunities for innovation and collaboration between our two organizations. Our cultures and vision align perfectly, and we are eager to enter this new chapter together with our whole team, customers, and partners.

Penguin random house biz