Stingray Digital Group, a Montréal-based provider of multiplatform music services, recently acquired 100% of the shares of Intertain Media Inc., a Winnipeg-based company providing digital media services to businesses across Canada. The financial terms of the transaction were not announced. Stingray is a portfolio company of technology buyout fund Novacap Technologies, managed by Longueuil, Québec-based Novacap, and of Montréal technology investor Telesystem.
Stingray Digital acquires Intertain Media
Tuesday August 20, 2013
Stingray’s Continues Growth Strategy in Commercial Music
Stingray Digital, a worldwide leading provider of multiplatform music services, announced today that it has acquired 100% of the shares of Intertain Media, a Winnipeg-based company providing digital media services to commercial businesses across Canada. The terms of the deal between the two private companies were not announced.
“Stingray Digital’s commercial music and digital media services for businesses is an important area of focus for the growth of our company,” commented Eric Boyko, President and CEO of Stingray Digital. “We recognize that achieving scale in this business allows us to develop and deliver best-in-class services to our customers. The acquisition of Intertain helps us achieve this goal,” he added.
“With Stingray being the largest background music provider in Canada, we are confident that our clients will be well served and benefit from an innovative and fast growing national company like Stingray,” commented Bill Baines, President of Intertain.
Stingray Digital’s commercial music services currently serve more than 61,000 commercial locations in Canada, and this acquisition will add more than 600 new locations and key customers. Intertain’s customers for in-store music and on-hold messaging include Newfoundland Liquor Corporation, Sleep Country Canada, Dormez-Vous, Holt Renfrew and Crane Supply.
Stingray Digital is the largest provider of music services in Canada both for residential use through the Galaxie music service delivered to more than 10 million homes in Canada and enjoyed by 60% of Canadians on a regular basis, and for commercial use with now more than 61,000 commercial locations receiving Stingray Digital-produced music programming.
About Stingray Digital Group
Stingray Digital is the leading multi-platform music service provider in the world, with more than 75 million subscribers in 71 different countries. Our properties include:
– Galaxie, the leading digital music service on TV in Canada and in the US (www.galaxie.ca);
– The KARAOKE Channel, the world’s largest licensed karaoke library and karaoke service on TV and Internet (www.thekaraokechannel.com);
– Music Choice Europe, the leading digital music service on TV in Europe and Africa (www.musicchoiceinternational.com;
– Concert TV, a video-on-demand service distributed to 45 million homes in the US, Canada and Europe (www.concerttv.com);
– Stingray360, a leader in sensorial marketing solutions for business (www.stingray360.com);
– Stingray Music, music licensing for film, television, advertising and other (www.stingray-music.com).
Stingray Digital is financially backed by Telesystem and Novacap. Headquartered in Montreal, Quebec, the company has 200 employees in offices across Canada and additional offices in Los Angeles, London, England and Tel Aviv. For more information, visit www.stingraydigital.com.
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