The technology giant has acquired online music retailer Lala.
Cupertino, California (WiredPRNews.com) – Apple Inc. has recently acquired a competing retailer of online music. As reported by Reuters, the technology giant confirmed the acquisition of Lala Friday, but did not provide specific details about the terms of the deal.
As noted in the report, Apple currently leads the way in U.S. digital music sales with iTunes accounting for 70 percent of sales in the country. Apple spokesperson Steve Dowling is quoted by Reuters as stating of the company’s decision to purchase the smaller online music seller, “Apple buys smaller technology companies from time to time and we generally do not comment on our purpose or plans.”
An anonymous source is further quoted in the report as stating of Apple’s plans to expand iTunes, “Apple recognizes that the model is going to evolve into a streaming one and this could probably propel iTunes to the next level.”
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