US: Music buyouts continue with Google’s latest purchase

Google, whose YouTube is set to launch a music streaming service later this year, has reportedly inked its latest acquisition of startup music streamer Songza.

According to sources, while the companies did not disclose financial details of the buy, the deal was made for about $35 million. The company specializes in catering to listeners’ moods and situations to deliver music they would enjoy.

Such music-data intelligence assets are proving more important for major tech firms, reports say, as Spotify acquired a similar service, Echo Next, last May. Music streamer Rdio bought TastemakerX in a deal announced earlier this week.

YouTube, which is owned by Google, is expected to launch its own music streaming service later this year. But Google’s latest purchase, say reports, will boost its current Google Play Music All Access business.

Full content: NYPost

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