MUMBAI: Hewlett-Packard (HPQ) has acquired Melodeo, the parent company of the nuTsie music streaming service for a reported amount of $30 million to $35 million.
The company confirmed acquiring the seven year old Seattle media firm which provides cloud-based music delivery systems for mobile devices. In a statement, the company said the deal is another example of our efforts to bring new, innovative technologies to market. We are excited about the potential of this technology to bring the power of cloud-based delivery service to millions of customers…
On its web site, Melodeo says that through services such as nuTsie (an anagram of iTunes) and Mobilcast it reaches more than 50 million wireless customers through distribution deals with a range of handset companies and service providers.
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Melodeo was started by the founders of Tegic Communications, creator of the T9 predictive-text system for mobile phones. Tegic was sold to AOL in 1999 for $350 million in stock.
