Monday, August 1, 2005
ARTISTdirect Buys MediaDefender
Los Angeles-based ARTISTdirect said this morning that it is acquiring Marina Del Rey-based MediaDefender, a developer of internet piracy prevention technology, for $42.5M in cash. MediaDefender develops software for detecting illegal file trading and downloading of copyrighted music, and is used by music and entertainment companies to battle illegal music swapping and downloads. ARTISTdirect said that it plans to also offer the MediaDefender technology for protecting videos, computer games, software, and e-books. The acquisition was funded through senior secured debt and convertible subordinated debt and warrants.