HP snaps up music streaming service Melodeo

Hewlett-Packard is continuing its expansion into the mobile services space, acquiring streaming music service provider Melodeo. Financial terms were not disclosed, although TechCrunch reports the purchase price falls somewhere between $30 million and $35 million. Melodeo's nuTsie initiative essentially streams users' existing iTunes playlists to their mobile devices--in addition to applications for iPhone, Android and BlackBerry smartphones, the firm boasts carrier partnerships with Verizon Wireless, AT&T, Sprint and T-Mobile USA as well as distribution deals and customer relationships with the likes of Apple, Handmark, Thumbplay, Motorola and Nokia. TechCrunch adds the forthcoming nuTsie 3.0 will enable users to copy their complete physical music library from the desktop into the cloud, making content directly accessible across multiple device platforms.

The Melodeo acquisition follows two months after Hewlett-Packard purchased device maker Palm for $1.2 billion. In the wake of deal HP praised Palm's webOS smartphone operating system and said it plans to continue nurturing and expanding the platform moving forward, leveraging its distribution channels and financial strength to broaden the webOS platforms into new segments, including tablets and netbooks targeting both the consumer and enterprise markets.

For more on the HP/Melodeo deal:
- read this TechCrunch article

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