RoyaltyShare has acquired Broad Street Digital and their Rightsrouter platform from Arbinet. As part of the sale, RoyaltyShare and Arbinet will also work together to explore business opportunities presented by convergence of telecommunications and entertainment. Financial terms of the agreement were not disclosed.
Rightsrouter is a digital content licensing management and distribution platform that already represents 500 record labels for content delivery.
"RoyaltyShare offers the first and only platform that automates the entire digital sales process - from catalog management and content delivery to artist and mechanical royalty processing," said Bob Kohn, Chairman and CEO of RoyaltyShare. "The acquisition and strategic relationship announced today will significantly increase our reach into the European market and provide us with the opportunity to work with one of the world's leading telecommunications service providers to address the needs arising from the convergence of telecommunications and the distribution of recorded entertainment."
"The sale of the Broad Street Digital business to RoyaltyShare will allow us to focus our resources more effectively on our core voice and IP transit businesses," said William M. Freeman, CEO of Arbinet.
