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Motorola acquires Singapore based Soundbuzz
By siliconindia
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Wednesday, 09 January 2008, 20:30 IST
Singapore: In an attempt to expand it MOTOMUSIC service in Asia and other countries, Motorola has signed a definitive agreement to acquire Soundbuzz, a Singapore based pan-Asian music provider. Terms of the transaction were not disclosed and the acquisition, which is subject to customary conditions, is expected to close in the first quarter of 2008.
Motorola has more than two years experience delivering mobile music to consumers with its carrier customers in China, Hong Kong and Taiwan. With the acquisition of Soundbuzz, Motorola plans to expand MOTOMUSIC beyond China, into India, Southeast Asia, Australia and New Zealand.
Over 90 percent of all digital music content in Asia is sold via mobile channels and the level is expected to remain the same in the coming years. Motorolas strength in music delivery will help its carrier customers access this growth opportunity.
"We are very pleased to announce this transaction with Soundbuzz. It will provide Motorola with one of the most extensive music libraries in the Asia Pacific region, advance our music and video offerings in Australia and South East Asia, and build on the success of our MOTOMUSIC Services in China," said Bill Werner, Senior Vice President, Future Solutions and Technology for Mobile Devices, Motorola. "We are delighted to welcome Soundbuzz's strong management whose extensive region specific experience in the music and video industries will enhance the strength of our mobile device teams," he added.
"Motorola's dedication to enhancing the digital music experience in Asia complements our own objectives and makes it the ideal partner," said Sudhanshu Sarronwala, CEO, of Soundbuzz. "This combination will help us extend our platform and create exciting growth opportunities for Soundbuzz's employees and our partner music labels. Further, our customers will benefit from the technological advancements that we expect to deliver as part of a global leader in mobile communications," he said.
Headquartered in Singapore, Soundbuzz has access to one of the most extensive music libraries in the Asia-Pacific region, through licenses from Sony BMG, EMI, Warner Music International and Universal Music Group, as well as over 45 independent record labels in Asia, the U.S. and Europe.
Motorola intends to maintain Soundbuzz's Singapore headquarters, which will be an integral component of Motorolas digital music development strategy in Asia.
