Music Choice owner Stingray Digital is to purchase the Tel-Aviv-based digital music broadcaster Musicoola.
It’s the eighth acquisition made by Stingray since the company was created in 2007. Stingray has a presence in more than 50 countries.
Based in Tel-Aviv, Israel, Musicoola offers a full suite of linear music channels tailored to local tastes to television service providers in Israel, Angola, Hungary and Romania. Musicoola’s services will continue to be offered to existing customers, and the integration of the companies will begin immediately.
“As part of our plan for global expansion, we are continuously seeking strategic acquisitions that fit with the Stingray Digital model and allow us to further expand the distribution of our various music-related properties”, stated Eric Boyko, President and CEO of Stingray Digital.
“Musicoola is an ideal fit for us, since there are ample opportunities for synergies between our respective platforms and services. This acquisition will allow us to expand our product offering to new customers in new countries, strengthening our presence in the Middle East and Africa, while deepening our penetration of the European market,” he added.
In addition to Music Choice, Stingray also operates The Karaoke Channel.
The terms of the agreement were not disclosed.
