Music streaming service Spotify is buying podcast companies Gimlet and Anchor as it looks to take on Apple's popular iTunes' podcasts.
Gimlet Media has a podcast studio with dedicated IP development, production and advertising capabilities. Anchor has a platform of tools for podcast creators as well as an established and rapidly growing creator base.
Spotify founder and CEO Daniel Ek said in a blog post that Spotify has become the second-biggest podcasting platform in a little less than two years.
Financial terms of the transactions were not disclosed. The deals are targeted to be completed in the first quarter.