PE-backed Stingray to grow Latin American presence with Telefónica deal
Stingray Digital Group has purchased Telefónica On The Spot Services' Pay TV music portfolio of clients in South America and Portugal. The financial details of the transaction were not disclosed. Stingray said the acquisition is an important milestone in its Latin America growth strategy. Earlier this year, the company also bought a Latin American digital music services business from Mood Media Corp. Based in Montréal, Stingray is a multi-platform music services provider. It is majority-owned by Canadian private equity firm Novacap, Telesystem and Boyko Investment Corp. Telefónica On The Spot Services is a subsidiary of Spain's Telefónica Group.
17 October 2014•4 mins read
