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Tuesday, November 17, 2015

Pandora Buys Key Assets From Rdio

Pandora Buys Key Assets From Rdio
Nov 16th 2015, 18:55
Pandora will be buying "key assets" from streaming platform Rdio, paying $75 million for the technology and intellectual property. The deal is for the technology, not Rdio's day-to-day business, which will be wound down once all the conditions of the transaction are met and the deal is closed. At that point, Pandora says it plans to offer jobs to many Rdio employees. Pandora CEO Brian McAndrews said, "Adding Rdio's impressive technology and talented people will fast-track new dimensions and enhancements to our service. I couldn't be more optimistic about Pandora's future and the future of music."