Stingray Digital Media Group Inc (TSX: RAY.A-B) has bought SBA Music PTY Ltd, a Sydney, Australia-based provider of in-store media solutions. No financial terms were released. Stingray, a multi-platform music services specialist, said the integration of SBA into its in-store media operation will support expansion in the Asia-Pacific market. Montréal-based Stingray raised $180 million in an initial public offering in 2015. It continues be a portfolio company of Caisse de dépôt et placement du Québec, Novacap, Telesystem and other investors.
Stingray Grows its In-Store Media Solutions for Businesses Division in the Asia-Pacific Region
Stingray Acquires Australia’s SBA Music PTY Ltd.
MONTREAL, QUEBEC–(Marketwired – July 31, 2017) – Stingray (TSX:RAY.A)(TSX:RAY.B), a leading business-to-business multiplatform music provider, today announced that it has acquired a leading Australian provider of in-store media solutions, SBA Music PTY Ltd. (SBA). Stingray, through its Stingray Business division, is already an in-store media market leader in Canada and in Mexico.
This agreement follows the December 2015 acquisition of Digital Music Distribution PTY. Ltd. (DMD), one of Australia’s most prominent digital music service providers, and the extension of the distribution agreement with local pay TV provider Foxtel, proving Stingray’s commitment to growing its presence in the strategic Asia-Pacific market.
Under the terms of the agreement, Stingray will fully own and operate SBA with the continued direction of the current leadership.
SBA is one of Australia’s leading background music suppliers, providing tailored music experiences to over 2,000 Australian businesses and their customers. The company provides a range of online and offline background music systems and apps which, together with customized content to build customers’ brands, greatly enhance the retail environment.
Over 20 years of expertise as a background music provider.
Services include music programming, licensing, and distribution.
Solutions offered through numerous platforms, including a mobile app and multimedia player.
Channels curated by SBA’s in-house music programming team.
Clients include McDonald’s, Barbeques Galore, and Lorna James.
For more information: http://www.sbamusic.com.au
“While many may know Stingray as the leading provider of multiplatform music services for entertainment content providers, our in-store media solutions division, Stingray Business, is also a driving force for company growth,” said Eric Boyko, President, Co-founder, and CEO of Stingray. “By acquiring and integrating SBA into Stingray Business, we guarantee the expansion of our service into the Asia-Pacific market. We are excited by the opportunity to leverage the expertise and market knowledge of the team in place and welcome them wholeheartedly to the Stingray family.”
Stingray (TSX:RAY.A)(TSX:RAY.B) is a leading business-to-business multi-platform music and in-store media solutions provider operating on a global scale, reaching an estimated 400 million pay TV subscribers (or households) in 156 countries. Geared towards individuals and businesses alike, Stingray’s products include the following leading digital music and video services: Stingray Music, Stingray Concerts, Stingray iConcerts, Stingray Brava, Stingray DJAZZ, Stingray Music Videos, Stingray Lite TV, Stingray Ambiance 4K, Stingray Karaoke, NatureVision TV, Yokee Music, Festival 4K, Stingray Loud, Stingray Juicebox, Stingray Vibe, Stingray Retro, and Classica. Stingray also offers various business solutions, including music and digital display-based solutions, through its Stingray Business division. Stingray is headquartered in Montreal and currently has close to 350 employees worldwide, including in the United States, the United Kingdom, the Netherlands, France, Israel, Australia, South Korea, and Singapore. Stingray was recognized in 2013 and 2014 as a finalist in the Top 50 of Deloitte’s Technology Fast 50TM list, and figures amongst PROFIT magazine’s fastest-growing Canadian companies. In 2016, Stingray was awarded best IR for an IPO at the IR Magazine Awards – Canada. For more information, please visit www.stingray.com.
Senior Vice-President, Marketing and Communications
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Photo courtesy of Stingray Digital Media Group