Music streaming service Rdio is shutting down, the company has filed for bankruptcy and Pandora will be acquiring key assets from the company.
The news of the acquisition of key assets by Pandora was announced by Rdio on their blog, they will pay $75 million to acquire the technology behind Rdio.
We’d like to update the entire Rdio community regarding today’s announcement that Pandora plans to acquire Rdio’s innovative technology and critically-acclaimed design. Pandora has been a pioneer in music streaming for the last decade and shares our passion for delivering the best service possible to music fans everywhere. We’re very excited to continue our tradition of delivering beautiful and powerful music experiences to an even larger audience.
Pandora have said that they are acquiring the technology of Rdio and not the whole company, you can find out more details about the deal at the link below.
Source TechMeme
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