RNS out10 May 2018 13:49
CATENAE INNOVATION PLC
("Catenae" or the "Company")
Memorandum of Understanding Signed
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.
ToN's product offering is complimentary to those offered by Trust in
Media the Company's joint venture announced in March 2018 and provides a
ready built audience and cross-selling opportunities for both entities.
This proposed acquisition further underlines the Company's strategy to
build a portfolio of synergeous businesses.