JP/Politikens Hus acquired Saxo, a Danish online bookshop.

JP/Politikens Hus, a Copenhagen, Denmark-based media group, announced that it acquired the Danish online bookshop Saxo.com.

The financial details of the deal remain undisclosed. JP has been a minority investor in Saxo for more than 10 years and this deal was made as the company accelerates its efforts to compete with Storytel, Mofibo (owned by Storytel) and Bookmate. JP also owns a digital streaming service, Politiken Books, and the Swedish book publisher Polaris

Saxo, led by CEO Jørgen Balle Olesen, is Denmark’s largest online bookstore. In 2017 the company launched its own streaming service, Saxo Premium, with discounts in online bookshops for subscribers.