(Webcast announcing the deal: 9 AM EST Tuesday…check the Loudeye website for link) Loudeye, in some moment of hubris, is now calling itself the world’s largest B2B digital media company, after the annnouncement of the acquisition of European digital music player OD2.
According to the release:
– the combination approximately doubles Loudeye’s revenues on a pro forma basis.
– The combined company now serves more than 200 customers in 15 countries. It will have the largest licensed music catalog, including 1.3 million tracks licensed for Europe from the five major labels as well as hundreds of independent labels including AIM, Playlouder, Naxos, Zomba, V2, Saregama and Beggar’s Banquet.
– Loudeye has retained Charles Grimsdale, OD2’s co-founder and CEO, who will become the president and managing director of the combined company’s international business operations.
– For Q1 this year, on a UK GAAP basis, OD2 generated approximately $2.5 million in revenues, which represented over 80% sequential growth from the quarter ended December 31, 2003 and over 250% growth versus the prior year quarter.
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