AUSTIN, Texas–(BUSINESS WIRE)–Videoconnect, Inc. (VIC) today announced it has entered into a definitive agreement to acquire VocalMedia, a streaming audio and video service provider.
VocalMedia offers a variety of streaming audio services including Spotify, Pandora, iTunes, Soundcloud and others.
The acquisition will provide Vocal with a robust audio and media platform for both local and nationwide distribution.
Vocational education and social engagement has long been a focus of the company.
This is a strategic move for Vocal and the growth of our digital offerings across the globe.
Vocal’s leadership team will remain at Vocal, along with Vocal Media Chief Executive Officer Paul F. Zabel and President, President, Vice President and CEO, Kevin Kohn.
In addition to the acquisition, the company also announced it will be investing $400 million to accelerate its expansion across the country.
The investments will create new, strategic investments to accelerate the company’s growth.VOCAL is one of the largest independent digital media companies in the world with over 400 million monthly users and over 20 million paid subscribers.
The company’s digital offerings include music, sports, news, entertainment, sports content, lifestyle and more.
VOCAL also owns a portfolio of brands such as VocalBus, VocalMusic, VOCALS.com, VIC, VLC, VOGU, and VOCAMUS.
For more information about the acquisition visit www.vocal.com or www.vocalmedia.com.
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