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Samsung’s Music Partner 7digital Picks Up $1.6M Loan, Enters Into Reverse Takeover Talks With UBC

on November 25, 2013

TechCrunch

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Some developments for 7digital, the UK-based music platform that powers download and streaming services for the likes of Samsung, HTC, T-Mobile and Pure: it has entered into acquisition talks and a “reverse merger” with UBC Media, a radio program producer, developer of interactive audio technology, and software investor (it’s the largest shareholder in Audioboo, a platform where you can make and share audio recordings). As part of the deal, UBC is providing 7digital with a £1 million ($1.6 million) loan that can be converted into shares in UBC — which is publicly traded in London on the AIM exchange.

On top of that, 7digital is announcing a couple of expansions of its service — confirmation that it is powering a new streaming service from HMV in the UK and Ireland; and a deal with Apple/Intel-backed Imagination Technologies‘ Pure to power a streaming service in the U.S. to…

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