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Songtradr Completes 7Digital Acquisition


by Chris Eggertsen, Billboard Pro, March 30, 2023


The deal will "help deliver scalable solutions for the music industry while simplifying music use" for digital platforms and brands, says CEO Paul Wiltshire.


When the deal was first announced on Feb. 8 prior to being finalized, 7digital said it planned to accept a bid worth 19.4 million pounds ($23.4 million), with its shareholders set to receive 0.695 pence ($0.84) per share in cash, a 114% premium over the prior day’s closing price.


Songtradr is a music licensing marketplace and distribution platform that matches rights holders with brands via a searchable database. 7digital offers a range of digital music services for businesses, including licensing, tracking, reporting and paying rights holders. It has integrated with over 300,000 labels and publishers and boasts a catalog of over 80 million tracks.


(...) In a statement, Songtradr CEO Paul Wiltshire said the 7digital acquisition will help it achieve its goal “to remove the friction and help deliver scalable solutions for the music industry while simplifying music use for enterprise brands and digital platforms.”


Read more about this business deal in Billboard Pro's website where it was initially published

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