Vivendi, the European media juggernaut that owns the likes of Universal Music Group, Canal+ and Dailymotion, has acquired a majority stake in Radionomy, a small technology company that specialises in online radio services.
Radionomy was in the news in the beginning of last year, when it - surprisingly - sealed a deal to acquire once-popular media player Winamp and streaming software platform SHOUTcast from AOL.
If you're interested in how that played out, check out our video interview with Radionomy founder Alexandre Saboundjian, recorded right after that particular deal was confirmed.
Vivendi has now taken a 64.4% stake in Radionomy, becoming its majority shareholder in one fell swoop. The companies did not disclose the price.
What we do know is that Saboundjian will remain a shareholder in the company, alongside Radionomy staff and well-known New York-based investment firm Union Square Ventures.
The wording of the statement on ownership suggests that other investors - including AOL, CBS and Bain Capital - have sold their stakes to Vivendi.
Radionomy, which was founded in Belgium, is best known as an Internet platform that allows hosts to broadcast and monetise digital radio channels on a global scale. The platform also offers tools to some 57,000 FM radio stations to develop and monetise their digital presence.
Aside from the aforementioned streaming technology SHOUTcast as well as the Winamp audio player, Radionomy also owns TargetSpot, the first digital audio advertising network in the US and France.
From the press release:
"Vivendi’s capital investment in Radionomy Group will provide an impetus for its commercial development, supported by the promising outlooks for the advertising and digital audio markets all over the world.
Radionomy is also very well positioned to capitalize on the expected evolution of the digital audio market towards targeted advertising, thanks to its technical tools and its partnerships.
With this investment in digital radio, Vivendi expands its presence in the value chain that flows from talent discovery to content production and distribution. Collaboration between the digital audio platform and the Vivendi businesses will be established and a number of innovative offers will be developed. Radionomy also complements the talent support program which contributes to the Vivendi Group’s sustainable development."