After a long time seeking a buyer, Napster has finally found a new home with US consumer electronics giant Best Buy. The deal, valuing Napster at $121 million represents a value of $2.65 per share and a customer acquisition cost (Napster has 700,000 subscribers) at around $180 each. The deal has the backing of Napster”s board and is expected to close by the end of the year, with current company management and staff – including CEO Chris Gorog – expected to remain in post.
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