- WKN: A1YDAZ
- ISIN: DE000A1YDAZ7
- Land: Deutschland
Nachricht vom 28.01.2016 | 10:10
SendR SE: SendR Group acquires Phonofile AS and is to double revenue
DGAP-News: SendR SE / Key word(s): Takeover/Merger
Hamburg, January 28th 2016 - Music service provider SendR SE (ISIN DE000A1YDAZ7), headquartered in Hamburg with offices in Berlin, London, Paris, Los Angeles and Singapore, and traded on the Berlin Stock Exchange and in the Marché Libre segment of the Euronext Paris exchange, announces its acquisition Phonofile AS, northern Europe's biggest digital service provider.
The result is one of the largest mergers in the recent history of the independent, digital music distribution segment. Under the umbrella of the SendR Group, Phonofile AS will join forces with finetunes GmbH (Hamburg), the German digital service pioneer in the field of digital music rights distribution. The companies will continue to operate autonomously and independently of one another. "Both companies will continue to use their respective strengths in each of their regional territories. The medium-term focus of the acquisition is on developing new, shared strategies and, in connection with this, on establishing a larger global presence. In this way, we can actively play an even more important role in this market in the future," said Henning Thieß, Executive Director of SendR SE.
The merger not only allows the Group to double revenue directly as part of the consolidation, but will also enable it to expand its global reach for the benefit of music licensers. This merger will make possible a unique and comprehensive approach to managing and marketing the licensers.
Henning Thieß, Executive Director of SendR SE: "Our many years of trailblazing work has received another vote of confidence. Northern Europe's biggest digital service provider, Phonofile AS, reinforces our unique selling points and the mutual trust between us. Together, we can ensure that we continue to provide our music licensers not only with the support to which they are accustomed and the comprehensive distribution of music titles, but also we can also enable a further, and even more comprehensive, market penetration for ourselves and our clients. In the ever-growing music streaming market, we have now reached a size that allows us to cover every aspect for our artists and licensers."
Erling Andersen, FONO: "This merger generates a new, major player in the music licensing market, one that can offer its customers considerable added value. Today, Phonofile AS is the leading independent distributor im Scandinavia, serving nearly 2000 labels. The merger with finetunes is another great step for Phonofile, which will strenghten both the commercial and financial position of the company in a very competitive market. For Norwegian indie companies this will be very good news, as their digital distribution and marketing partner Phonofile will be part of a strong alliance with great potential of market extention and further development of digital label services."
Until the integration into the Group has been completed, the parties have agreed not to disclose any information on the purchase price. SendR SE has, however, made known that ~25% of the purchase price will be paid in cash, and the remainder by issuing new shares.
About SendR SE:
With a catalogue of more than 120,000 artists and over 700,000 titles, SendR, via its wholly owned finetunes GmbH subsidiary, is one of the leading, independent clearing houses for the digital exploitation of music rights.
About Phonofile AS:
Phonofile (since 1999) is a digital pioneer, and the biggest of its kind in the leading Nordic markets. We strive to give independent labels and their artists an overview and knowledge in the constantly changing world of digital music. From offices in Oslo, Stockholm, Gothenburg, Copenhagen and London we distribute music from our innovative and ambitious labels to the whole world. We believe in transparency and fair compensation combined with great knowledge of the new world of digital marketing and communication, and this approach we are constantly developing into features for implementation into our tech system.
This announcement contains forward-looking statements that are subject to a number of risks and uncertainties. The forward-looking statements contained herein are based on the SendR SE Board of Directors' current plans, expectations and estimates as at the date of publication. Such statements constitute neither an assurance nor a guarantee, and are subject to a large number of known and unknown risks and uncertainties, some of which cannot be influenced by SendR SE. These risks and uncertainties mean that events that actually occur may differ substantially from the statements made here. SendR SE is not required to update or amend the forward-looking statements contained in this announcement in order to reflect events or circumstances that occur after the date of publication. This announcement does not constitute an offer or invitation to purchase any SendR SE securities, and is for information purposes only. All information contained in this announcement is addressed exclusively to persons living or having their place of business in Germany. In particular, this announcement does not constitute an offer or invitation to purchase any SendR SE securities for persons living or having their place of business in other countries, e.g. the USA, Japan and Canada.
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