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Believe Digital Acquires Germany's mTunes; Raises $6.5 Million Second Round

By Staci D. Kramer - Fri 03 Oct 2008 08:16 PM PST

European digital "label" Believe Digital has a two-fer this week: the acquisition of MTunes, a German digital distribution company with Media2Radio, and a $6.5 million second round. The combined company will operate as Believe Digital, with headquarters in France. Believe reps indie artists digitally in exchange for a percentage of sales. MTunes promises access to 250-plus digital outlets through one distribution partner. Believe raised a $3 million first round last year from Xange Private Equity, which shared the second round with Ventech. 

Posted in: Entertainment, Music, Money, M&A, VC

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