Spotify Technology S.A. (NYSE: SPOT) has acquired Findaway, a digital audiobook distribution firm. The acquisition will allow Spotify to accelerate its entry into the audiobooks industry, enabling access to its hundreds of millions of listeners.

Findaway’s technology will enable Spotify to scale its audiobook catalog and provide new avenues for publishers, authors and independent creators to reach new audiences. Spotify intends to influence the audio book space in the same fashion as music and podcasts.

“It is Spotify’s ambition to be the destination for all things audio both for listeners and creators,” said Gustav Söderström, Spotify’s chief R&D officer. “The acquisition of Findaway will accelerate Spotify’s presence in the audiobook space and will help us more quickly meet that ambition.”

“Together with Spotify we have the opportunity to innovate and democratize the audiobook ecosystem,” said Findaway founder & CEO Mitch Kroll. “We founded Findaway with the recognition of the power of the spoken word through audiobooks and the unique opportunity to empower storytellers and connect them with listeners.”