VNUE announces plan to acquire StageIt

VNUE Inc., a music tech company, is acquiring online concert platform StageIt.

According to VNUE, the deal will reportedly include the addition of more than $9 million in revenue, hundreds of thousands of live music fans and great live streaming technology.

Both companies expect to close the deal within 60 days once the financial audit and diligence are complete.

The StageIt service will work very nicely with VNUE’s set.fm “instant live” online platform, and the company will apparently add a feature that allows fans and users to buy the audio of the performance immediately after the show finishes.

The CEO of VNUE, Zach Bair, said in a statement:

“The acquisition of StageIt represents the first step in a multi-pronged plan to grow the business and enhance shareholder value, as I have committed to since day one.

“The company will pursue both organic and inorganic opportunities that are synergistic, and with StageIt, we have incredible synergy not just with the StageIt platform and how we can integrate with our existing content platforms such as set.fm, but with the incredible leadership and talent pool that we will now have access to in order to move our Soundstr technology forward.”