Motorola to Buy Soundbuzz
Motorola has announced it will purchase Singapore- based online music store Soundbuzz in an effort to boost its mobile music service in Asia.
" Soundbuzz will become part of the Motorola entertainment family," said Ian Chapman-Banks, vice president of marketing at Motorola Asia-Pacific’s mobile devices unit, at a press conference in Singapore.
Terms of the deal were not released, but the acquisition is expected to close during the current quarter.
Motorola is counting on the purchase of Soundbuzz to make it the leading seller of online music in Asia, Chapman-Banks said, noting Soundbuzz’s current relationships with recording companies along with mobile operators in India, Australia, Singapore and other countries in Asia.
Chapman-banks said the purchase of Soundbuzz will allow the company to expand on its successes with MOTOMUSIC, a digital music service in China, Hong Kong and Taiwan, into Southeast Asian markets as well as Australia and India. "Motorola is really excited about acquiring Soundbuzz,"he said. "We really are now the biggest Pan-Asian aggregator and distributor of digital music to the mobile and to the PC."