Pandora is Buying Rdio Music Technology for $75 Million – TechnoBezz

Pandora is buying Rdio Music technology and its intellectual property. The $75 million purchase is to accelerate the business strategy.

by rely on the technology on Rdio. On the deal, Pandora is not acquiring the operating business of Rdio, but many members of Rdio’s team will be offered roles with Pandora. The purchase happened when Rdio was seeking protection in the United States Bankruptcy Court for the Northern District of California. Upon approval of the proposed transaction by the bankruptcy court, Rdio will be winding down the Rdio-branded service in all markets.

Source: Pandora is Buying Rdio Music Technology for $75 Million – TechnoBezz

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