Stingray buys DMX Media
Juan Fernandez Gonzalez | 12-01-2014
Canada's Stingray Digital has bought Mood Media's Latin America DMX Media, digital music provider for pay-TV. Thanks to the acquisition, Stingray becomes one of the world's largest providers with more than 100 million subscriptions throughout 113 countries.
Recently DMX Media had been strengthening its position in Latin America and the Caribbean, sealing deals with several pay-TV operators during the past few months. Without further details, all the agreements will be initially maintained, and DMX's offer will be increased with Stingray's signals.
According to the company, Mood Media will continue to offer subscribed services for the moment, although the integration with Stingray Digital will immediately start.
“We are always looking for strategic acquisitions, as an essential part of our ambitious expansion plan,” explained Eric Boyko, CEO of Stingray Digital, which was, according to Deloitte, one of the world's fastest-growing technology companies in 2013. “This purchase strengthens our leadership position in the industry, and increases our presence in one of the pay-TV and broadband markets with the greatest foreseen growth.”
Stingray is based in Montreal, with offices in Los Angeles, Miami, London and Tel Aviv, and is owned by Telesystem, Novacap and Boyko Investment Corporation. Its music platform targets both individual clients and companies, serving content to music and video providers such as Galaxie, Music Choice International and Karaoke Channel.