Pandora has announced an agreement to acquire several key assets from Rdio, a pioneer in streaming music technology.<\/p>\n
This will accelerate the company\u2019s plan to offer fans greater control over their music, and strengthen Pandora\u2019s position in the market.<\/p>\n
\u201cWhether streaming through radio, on-demand, or in-person at live events, Pandora is building the definitive source for fans to discover and celebrate music,\u201d said Pandora.<\/p>\n
In addition to acquiring technology and intellectual property from Rdio, many members of Rdio\u2019s team will be offered roles with Pandora.<\/p>\n
The company expects to offer an expanded Pandora listening experience by late 2016, pending its ability to obtain licences.<\/p>\n
The purchase price is $75 million, subject to certain purchase price adjustments.<\/p>\n
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