MOU - 'billion dollar industry'10 May 2018 13:47
Catenae (AIM:CTEA), the AIM quoted provider of digital media and technology, announces that it has signed a Memorandum of Understanding with Tribe of Noise BV ("ToN") subject to completion of normal legal, accounting and commercial due diligence. The Company proposes to acquire a circa 51% interest in ToN for a consideration of Euro600,000, which would be satisfied by a mixture shares and cash.
Award winning music company Tribe of Noise (www.tribeofnoise.com) is a leading provider of quality, direct licensed music and fair remuneration models for a growing community of 30,000 musicians globally. Successful revenue models include ToN's streaming music services for businesses in retail, hospitality and leisure. A billion dollar industry overlooked by many consumer-centric music services.