Acquisitions are nothing new. Lately it seems like one comes every other week. According to some sources it has been confirmed that Best Buy will acquire Napster for a whooping $121 Million. Napster currently has 700,000 digital entertainment subscribers and this deal is valued at $2.65 per share, not bad.
The acquisition is expected to close sometimes during the fourth quarter. This is what COO of Best Buy had to say regarding this acquisition,
This transaction offers Best Buy a recognized platform for enhancing our capabilities in the digital media space and building new, recurring relationships with customers. This transaction offers Best Buy a recognized platform for enhancing our capabilities in the digital media space and building new, recurring relationships with customers.
[ source : AppleInsider ]
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