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Stingray Digital acquires European music broadcaster

Stingray Digital, the operator of music-based VOD channels including Concert TV, The Karaoke Channel and Galaxie, is to acquire Israeli music broadcaster Musicoola.

Based in Tel-Aviv, Musicoola offers a suite of linear music channels to service providers in Israel, Angola, Hungary and Romania. Musicoola’s services will continue to be offered to existing customers, and the integration of the companies will begin immediately, Stingray said. The deal is Stingray’s eight acquisition since the company’s inception in 2007.

“Musicoola is an ideal fit for us, since there are ample opportunities for synergies between our respective platforms and services. This acquisition will allow us to expand our product offering to new customers in new countries, strengthening our presence in the Middle East and Africa, while deepening our penetration of the European market,” said Eric Boyko, Stingray Digital’s president and CEO.

Stingray has more than 75 million subscribers in 51 countries.