Pandora set to buy struggling Rdio for $75 million

Pandora will be taking on Rdio’s technology and intellectual property, and claims that “many employees” from Rdio will be invited to make the transition.

Pandora says it intends to mesh its service with Rdio in an attempt to grow its user base with both online radio and on-demand music streaming.

Rdio will wind down its own-branded service in all markets upon approval of the transaction, while all staff members will be offered jobs at Pandora. The auction of Rdio’s other assets will be conducted by the United States Bankruptcy Court for the Northern District of California.

Internet radio giant Pandora has picked up the pieces of the company, acquiring “key” assets for $75 million.

The message went on: “We thank you for your continued support over the years and look forward to bringing you even better music experiences in the future as part of the Pandora team”.

Beats users can migrate their profiles and preferences to Apple Music, which began on June 30 as a subscription rival to services such as Spotify and Pandora. The service was a pioneer in the on-demand music streaming market having launched in 2010, but recently, it struggled to keep pace with the likes of Spotify and Apple Music. He added that Pandora would offer “full on-demand paid subscription” over time. Although, Rdio’s direct deals for its music catalog won’t transfer to Pandora. “But it will be building off the strength we have on our current business and the learning and technology that we will get from Rdio’s tech and the people”, he said. Acquisition negotiations between Rdio and Pandora have been reportedly going on for the last few months.

“We’re unifying the listening experience under a single roof”, Pandora CEO Brian McAndrews said Monday in a conference call with investors. Pandora could also leverage its acquisition of Rdio to expand its service to new regions and increase its music licensing options.

In a post on the official Rdio blog it announced that Pandora would acquire Rdio’s “innovative technology and critically-acclaimed design”.