Tony Sanders CEO of Catenae Innovation Plc (AIM:CTEA)

In this interview, Zak Mir  @ZaksTradersCafe talks with Tony Sanders CEO of Catenae about the latest RNS update.

Catenae (AIM:CTEA), the AIM quoted provider of digital media and technology, announces yesterday it has signed a Memorandum of Understanding with Tribe of Noise BV ("ToN") subject to completion of normal legal, accounting and commercial due diligence.

The Company proposes to acquire a circa 51% interest in ToN for a consideration of Euro600,000, which would be satisfied by a mixture shares and cash.

Award-winning music company Tribe of Noise (www.tribeofnoise.com) is a leading provider of quality, direct licensed music and fair remuneration models for a growing community of 30,000 musicians globally. Successful revenue models include ToN's streaming music services for businesses in retail, hospitality and leisure. A billion dollar industry overlooked by many consumer-centric music services.

ToN's product offering is complimentary to those offered by Trust in Media the Company's joint venture announced in March 2018 and provides a ready built audience and cross-selling opportunities for both entities. This proposed acquisition further underlines the Company's strategy to build a portfolio of synergeous businesses.