Feeds

Tesco grabs Peter Gabriel's musical streamer

Unexpected item in bagging area

  • alert
  • submit to reddit

High performance access to file storage

British music service We7 is being acquired by Tesco, which is taking a 91 per cent stake in the company for £10.8m. A full acquisition is expected.

We7 launched five years ago with backing from Peter Gabriel, who has stuck by the company despite heavy losses. Founding CEO Steve Purdham set up the company after selling SurfControl, which made net nanny software CyberPatrol, to Websense for £200m in 2007. We7 lost £3.68m in 2009, with revenue of just £361,000.

The company has offices in London and Oxford.

Originally an ad-supported streaming service – Yahoo! provided the ads – We7 itself morphed into a 'personalised radio' service, with less choice for the listener but much lower royalty costs.

Tesco is shifting into digital entertainment delivery, acquiring Blinkbox and vowing to be the leading retailer for UltraViolet, Hollywood's cloud locker/DVD service.

In the long run We7 probably makes more sense as part of Tesco's delivery chain than as a go-it-alone brand, given its know-how about the (very) messy business of music rights licensing. For now Purdham tells the Reg that various options had been discussed with Tesco for some time, and that "it's business as usual" for the radio service. ®

High performance access to file storage

More from The Register

next story
Seagate brings out 6TB HDD, did not need NO STEENKIN' SHINGLES
Or helium filling either, according to reports
European Court of Justice rips up Data Retention Directive
Rules 'interfering' measure to be 'invalid'
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Cisco reps flog Whiptail's Invicta arrays against EMC and Pure
Storage reseller report reveals who's selling what
Just what could be inside Dropbox's new 'Home For Life'?
Biz apps, messaging, photos, email, more storage – sorry, did you think there would be cake?
IT bods: How long does it take YOU to train up on new tech?
I'll leave my arrays to do the hard work, if you don't mind
Amazon reveals its Google-killing 'R3' server instances
A mega-memory instance that never forgets
USA opposes 'Schengen cloud' Eurocentric routing plan
All routes should transit America, apparently
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.