Loudeye, the trouble digital media and music services company based in Seattle, has sold its U.S. assets, as expected for a while, for a measly $11 million. And with this, it will focus on its stronger European operations, as it had announced earlier this year, even though it will still be a U.S. based company.
The assets were bought by music ID and database company Muze, based in NYC. Muze is owned by Enterprise Partner Venture Capital.
Under the deal, Muze assumes Loudeye’s online and mobile digital music commerce services, operating on Loudeye’s U.S.-based platform. The platform also has the capabilities to offer portable music subscription services to its customers. Live customers of the service are O2 Germany, ATT Wireless mMode MusicStore (now Cingular Wireless mMode Music) and BurnLounge. The acquisition also includes Loudeye’s encoding services, including for EMI Music customers, and music sound samples services, along with its hosting and internet radio services.
Loudeye will remain a publicly traded company whose primary focus is now UK-based OD2, a service that it bought in 2003, and distributes digital music to online retailers in Europe.
More details here in the release.
Related:
—Loudeye Restructures; Raises Guidance; Closes Developing Music Service
—Earnings: Loudeye’s Q4 Revs Increases; Losses Double
—The Vagaries Of Digital Music Business: Loudeye’s Annual Report
—Venture Capital Firm Acquires Muze
—Industry Moves: Muze Replaces Zullo; Bill Stensrud New CEO