Rapper and entrepreneur Jay Z is acquiring Swedish tech company Aspiro for 464 million Swedish crowns (56 million dollars)
According to the Verge, Aspiro currently operates a pair of streaming services: the ad-free WiMP and the high-definition Tidal.
The rapper intends to buy Aspiro via his company Project Panther Bidco.
Jay Z's bid was accepted by Norwegian media company Schibsted, which owns a majority share in Aspiro.
Aspiro's board members have "unanimously recommended" that the shareholders accept the offer.
Project Panther said that it had been following the development of Aspiro for some time, describing it as "an innovative high-quality company with strong future growth potential," the report said.
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