Spotify’s purchase of Niland may kick off spending spree
May 22, 2017
Music streaming giant Spotify has purchased machine-learning company Niland, a Paris-based AI startup that offers music search and recommendation software for music companies. Founded in 2013, Niland had raised funding from IT-Translation and graduated from Parisian accelerator Agoranov.
The acquisition is indicative of a trend for Spotify, which is picking up speed in its M&A game this year. Spotify has picked up four companies so far this year, a number that already matches its total number of acquisitions in 2016, per PitchBook data. The company made its first of 11 total acquisitions in 2013, then made one apiece in 2014 and 2015.
The Niland deal is unlikely to be the last of the year for the music company. Spotify has hired M&A specialist Sheila Spence to oversee corporate development, per a Recode report, an addition that makes sense given the music company’s plans to raise capital via a direct listing sometime in the next year.