Rdio have announced that Pandora intend to purchase Rdio for their “innovative technology and critically-acclaimed design.”
Rdio announced through their blog that Pandora, one of the longest running and largest music streaming services in the world, intend to buy out Rdio’s on-demand streaming service and their company. Pandora intend to acquire “several key assets” in technology and intellectual property for $75-million from Rdio, who recently filed for bankruptcy.
In an emailed statement, Rdio said: “We are proud to have created an innovative and critically acclaimed global music streaming service. Given the state of the streaming marketplace, we have reached an agreement with Pandora – a leader in music streaming that shares our passion for delivering the best possible music experience to music fans everywhere – to purchase key assets from Rdio’s business.”
Pandora have reportedly made clear they have no plans to continue the service, with plans to create a new on-demand service built using Rdio’s technology and talented workforce. The deal isn’t yet finalised even though it seems certain from both Rdio and Pandora’s perspective.
As soon as we have more information on the deal, any plans to shut Rdio down and how RouteNote artists will be affected you can be sure to see it here on our blog.