7digital to acquire French digital streaming music provider Snowite
B2B digital music provider 7digital is to acquire French digital streaming music service Snowite [SAS].
But, the transaction is still subject to a decision by the French Commercial Court due to Snowite currently being in a state of “Procédure de Sauvegarde” under French insolvency law – a procedure similar to Chapter 11 proceedings in the United States.
The formal completion of the acquisition is expected on or around March 30, 2016. According to 7digital, the reason for the announcement today ...
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