Feeds

Tesco grabs Peter Gabriel's musical streamer

Unexpected item in bagging area

  • alert
  • submit to reddit

Security for virtualized datacentres

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. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Docker's app containers are coming to Windows Server, says Microsoft
MS chases app deployment speeds already enjoyed by Linux devs
IBM storage revenues sink: 'We are disappointed,' says CEO
Time to put the storage biz up for sale?
'Hmm, why CAN'T I run a water pipe through that rack of media servers?'
Leaving Las Vegas for Armenia kludging and Dubai dune bashing
Facebook slurps 'paste sites' for STOLEN passwords, sprinkles on hash and salt
Zuck's ad empire DOESN'T see details in plain text. Phew!
Windows 10: Forget Cloudobile, put Security and Privacy First
But - dammit - It would be insane to say 'don't collect, because NSA'
Symantec backs out of Backup Exec: Plans to can appliance in Jan
Will still provide support to existing customers
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.