Pandora has announced an agreement to acquire several key assets from Rdio, a pioneer in streaming music technology.
This will accelerate the company’s plan to offer fans greater control over their music, and strengthen Pandora’s position in the market.
“Whether streaming through radio, on-demand, or in-person at live events, Pandora is building the definitive source for fans to discover and celebrate music,” said Pandora.
In addition to acquiring technology and intellectual property from Rdio, many members of Rdio’s team will be offered roles with Pandora.
The company expects to offer an expanded Pandora listening experience by late 2016, pending its ability to obtain licences.
The purchase price is $75 million, subject to certain purchase price adjustments.