Best Buy To Acquire Napster For $121m

Best Buy has agreed to purchase Napster Inc. for $121 million, which values Napster at $2.65 per share. Best Buy said that it intends to use Napster’s assets to reach new customers with an enhanced experience for exploring and selecting music and other digital entertainment products over an increasing array of devices. Best Buy currently does not plan to relocate Napster’s headquarters in Los Angeles, nor do they plan to make any significant changes in personnel.