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Google Buys Streaming Music Service Songza; Price Undisclosed

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Google (NASDAQ: GOOG) (NASDAQ: GOOGL) on Tuesday acquired streaming music company Songza for an undisclosed price.

Songza was established in 2007 and has 5.5 million users. Google said it plans no immediate changes to Songza.

The action may draw comparisons with Apple's recent $3 billion acquisition of Beats, but parallels may be misplaced: The New York Post reported last month that Google offered Songza just $15 million.

Google added that in coming months, it will incorporate Songza in its Google Play Music service.

"We'll also look for opportunities to bring their great work to the music experience on YouTube and other Google products," the company said.

Google closed Tuesday at $582.67, up 1.28 percent.

Posted-In: SongzaNews M&A

 

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