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Transol unit signs distribution deal in Europe

Transol unit signs distribution deal in Europe

Digital distribution company Transol (ASX:TNC) has revealed its music subsidiary, Valleyarm Digital, has signed a two year sales deal for European markets.

Valleyarm entered an agreement covering its music catalogue with digital distributor and service provider Believe Digital.

The contract will make Valleyarm's catalogue available in the UK and Europe through Believe's music store partners including Shazam, Spotify, Last.fm, Musiwave, Juno Download, Orange and Rhapsody.

Believe Digital has offices including in the UK, France, Italy, Germany, Spain and Portugal.

Valleyarm specialises in distributing digital music from Australian and Asian artists. As well as an Australian office, the company has a presence in Berlin. Transol in October acquired the remaining 20% of the company it did not yet own.

Financial terms of the agreement were not disclosed. TNC shares grew by a third to $0.004 during Thursday's trading following the announcement.

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Tags distributioneuropedigital mediaTransolbusiness dealsASX:TNC

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