Apple Acquires Small British Tech Startup Platoon

According to a report in Music Business Worldwide (MBW), Apple is building its music business by acquiring Platoon, a small tech startup from London that helps discover and develop emerging musical artists.

Apple confirmed the deal to CNBC but the terms of the deal were not disclosed. Platoon, which had about a dozen employees, was founded by former Skype executive Saul Klein, who also co-founded LoveFilm, and music industry veteran Denzyl Feigelson.

MBW reported that Platoon will continue to run as an independent business from its North London office.

A source for MBW said, “The Apple deal gives Platoon the backing and resources to accomplish its vision and continue its goal to develop original music and visual content – while leaving artists free to sign with who they want and
distribute their music where they want.”

Disclaimer: We have no position in Apple Inc. (NASDAQ: AAPL) and have not been compensated for this article.