Montreal, Canada, July 13, 2012 --(PR.com
)-- Stingray Digital, the leading supplier of music services for multi-channel television service providers worldwide, announced today the acquisition of Musicoola, a Tel-Aviv based digital music broadcaster. With this new addition, Stingray Digital reinforces its position as one of the most important companies in the digital music market with an established presence in more than 50 countries. This is the 8th acquisition for Stingray since its inception in 2007.
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. This continued international expansion will extend the firm’s global reach and enable Stingray Digital to strengthen its position as the most important supplier of music services to cable, IPTV and satellite television service providers, with services now offered in more than 50 countries.
“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,” Boyko concluded.
About Stingray Digital Media Group
Stingray Digital is the leading multi-platform music service provider in the world, with more than 75 million subscribers in 51 different countries. Our properties include:
· Galaxie, the leading digital music service on TV in Canada and in the US (www.galaxie.ca);
· The KARAOKE Channel, the world’s largest licensed karaoke library and karaoke service on TV and Internet (www.thekaraokechannel.com);
· Music Choice Europe, the leading digital music service on TV in Europe and Africa (www.musicchoiceinternational.com);
· Concert TV, a video-on-demand service distributed to 45 million homes in the US and in Canada (www.concerttv.com);
· Stingray360, a leader in sensorial marketing solutions for business (www.stingray360.com);
· Stingray Music, music licensing for film, television, advertising and other (www.stingray-music.com).
Stingray Digital is majority-owned by Telesystem, Novacap and Boyko Investments Corporation. Headquartered in Montreal, Quebec, the company has 200 employees in offices across Canada and additional offices in Los Angeles, and London, England. For more information, visit www.stingraydigital.com.