Pandora completes acquisition of Rdio

Thursday 24 December 2015 | 10:37 CET | News
Music discovery platform Pandora completed its acquisition of technology and intellectual property from Rdio. The company will also add nearly 100 former Rdio employees to its product, engineering and content licensing teams. Pandora said this move will accelerate its plan to substantially broaden its subscription business and roll out a multi‐tier product offering by late 2016. The purchase price is USD 75 million in cash, subject to certain purchase price adjustments. The deal, which was contingent upon Rdio filing for bankruptcy, was approved by the bankruptcy court.

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Categories: Internet
Companies: Pandora / Rdio
Countries: United States / World
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