“Earlier this month, a Music Ally report suggested UK-based Omnifone’s tech business and assets had been purchased by a mystery buyer for $10 million, and it seems that buyer is Apple,” Clover reports. “According to documents covering the sale, Omnifone’s alluring patent portfolio was not purchased by Apple, nor were debts or investments, but terms included a ‘royalty bearing license’ that Omnifone says will help it determine the value of its full range of patents.”
Clover reports, “Omnifone has a number of patents relating to downloading music, digital rights management, and generating recommendations that are potentially appealing to streaming music companies… Omnifone powered Samsung’s Milk music service in certain locations and it was licensed by PonoMusic to power the PonoMusic Store, which is temporarily unavailable as of today following Apple’s purchase of Omnifone. Following its acquisition, Omnifone has abruptly ended all of its partnerships.”
Read more in the full article here.
MacDailyNews Take: All three of PonoMusic Store’s patrons (counting Neil Young) are quite perturbed.