14 DAY TRIAL // Motorola just announced it has successfully completed the acquisition of Soundbuzz Pte., Ltd., one of the largest online and mobile music retailers in Asia. Besides being an important handset manufacturer, Motorola is also a global leader in mobile entertainment, and the acquisition of Soundbuzz makes the company even stronger in the entertainment industry. Financial terms of the transaction were not disclosed, but there's a big amount of money involved, that's certain.
The acquisition of Soundbuzz enables the American company to extend its popular Greater China music platform, MotoMusic, to the Indian market as well as to other South-East Asian countries. Soundbuzz will bring Motorola a strong presence in 13 Asia-Pacific markets, as well as licenses with Universal Music Group, Sony BMG, Warner Music International, EMI and more than 45 independent record labels from all over the globe, establishing MotoMusic as the leading music platform in Asia-Pacific.
"With the resources of Motorola, we are now able to immediately expand the digital music offerings available to our customers - and Motorola's rapidly growing installed base of handsets throughout the region," said Sudhanshu Sarronwala, Chief Executive Officer of Soundbuzz. "Clearly, this marks a major milestone, as it positions Soundbuzz and Motorola to better participate in the ongoing growth in Asia's booming mobile music download market."
"Music is the heart and soul of the mobile entertainment experience, and with Soundbuzz as a part of our family, Motorola has the biggest heart and the most soul in mobile music in Asia," said Ian Chapman-Banks, Vice-President of Mobile Devices Marketing for Motorola Asia-Pacific.
"With a library of over 750,000 songs and half a million mobile music derivatives, Motorola now offers the people of the Asia-Pacific region an extensive music collection, all available for download either via the Internet or directly onto your mobile device," added Mr. Chapman-Banks.
Maintaining its Singapore headquarters together with other offices in Sydney, Australia, and Mumbai, India, Soundbuzz (founded in 1999) will become an important component of Motorola's ongoing evolving mobile entertainment strategy in Asia-Pacific.