Songtradr to Acquire 7digital for $23 Million

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Songtradr will acquire 7digital for $23 million.

Songtradr’s announcement highlighted a number of strategic benefits it will receive from the proposed transaction. For starters, 7digital would give Songtradr a platform and music catalog that “will enhance relationships with existing customers and accelerate new customer acquisition” and put the company “in an advantageous position to provide unmatched combined solutions” in the video game space for both licensors and music rights holders.

Also, 7digital, which launched in 2004, would give Songtradr a technology solution that “delivers both music and audio rights at scale, metadata enhancement, digital rights management, content tracking and royalty spending.” The acquisition would allow Songtradr to quicken its growth strategy and “simplify global music licensing,” the announcement added.will join Songtradr along with the rest of the senior leadership team, though interim chairmanand all nonexecutive directors will step down.

 

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