Spotify Music to be acquired by Google for USD 41.1 billion cash and equity

Spotify Music to be acquired by Google for USD 41.1 billion cash and equity

According to Wall Street Journal, Google is planning to acquire Spotify Music with USD41.1 billion of cash and equity to compete against Apple Music.

“Now we can combine the best of three worlds: Google Music, Youtube Music and Spotify.” Said Google Music executive vice president Nathan Rurtherford.

Meanwhile from the Spotify CEO, Daniel Ek has offered a positive statement towards this acquisition by seeking help to build a future of music consumption and a platform for artist to grow.

The outcome of Spotify Music on this unexpected acquisition remain unclear as the purpose of this acquisition is to seek underlying technologies, ideas and instead of the app itself. With this acquisition, Youtube is expect to have a smoother experience and more content for fans.

[SOURCE]