Swedish Streamer Soundtrack Buys Two Rivals in Consolidation Bid

Streaming service Soundtrack Technologies Sweden AB has acquired two platforms in the UK and Belgium as it seeks to consolidate its position in an industry offering background music to businesses.

Soundtrack — founded in Stockholm in 2013, originally as a joint venture with Spotify Technology SA — bought UK-based Ambie Media Ltd., a music streamer serving the hospitality sector, Chief Executive Officer Ola Sars said in an interview. The group also acquired Belgium-based business-to-business streamer Tunify SA.