Spotify in talks to buy SoundCloud

Swedish music streaming service Spotify broadcasting is in talks to buy its German rival, service SoundCloud. This was reported by the Financial Times, citing its own sources knowledgeable about the negotiations. Allegedly, negotiations have progressed very far.

The founders and investors SoundCloud, including Twitter, SoundCloud recently invested in $ 70 million this summer reviewed the strategic options for further development of the service, established in 2008. Among them was the option of selling. The company is estimated at about $ 1 billion.

While the parties did not comment on the negotiations and a possible deal.

Source: Reuters

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