As reported in the Montreal The Gazette, 11 Jul. 2012 : « Montreal-based Stingray Digital has acquired Musicoola, a digital music broadcaster based in Tel Aviv. It’s the eighth acquisition in five years for Stingray, whose North American properties include the Galaxie music service. Terms were not disclosed.

Eric Boyco - Photo Hugo-Sébastien Aubert, La Presse

Musicoola offers music services tailored to local tastes to television-service operators in Israel, Angola, Hungary and Romania. “As part of our plan for global expansion, we are continuously seeking strategic acquisitions of companies that would fit in the Stingray model and allow us to further expand the distribution of our various music-related properties,” president Eric Boyko said.

“Musicoola is an ideal fit for us, since there are ample opportunities for synergies between our respective platforms and services. This acquisition will allow us to expand our product offering to new customers in new countries, strengthening our presence in the Middle East and Africa, while deepening our penetration of the European market.” The addition of Musicoola means Stingray will now be present in 51 countries. »

Read more in La Presse (french) or on Mi2N.com