10 April 2013

Ambient Sounds Investments has sold its stake in Mendeley to the leading global publisher Elsevier

Skype's co-founders' investment company, Ambient Sound Investments (ASI), has sold the stake in Mendeley, collaboration platform for academics, at a profit. Mendeley's new core owner is Elsevier, the world-leading educational publishing company. As per the agreement of the parties, the transaction value will remain confidential.

“The uniqueness of the Mendeley platform and its correspondence to the target group's needs is affirmed by Elsevier's decision to integrate Mendeley into their offering in its original form, alongside Elsevier's own tools ScienceDirect and Scopus,” said Margus Uudam, Manager of ASI venture capital investments, recognizing Mendeley's strong position in the market.

Ambient Sounds Investments is an investment company established in 2003 by Skype's Estonian co-founders. ASI has invested into more than 30 Asian, European and US companies. The Mendeley transaction is ASI's fourth exit.