Naver’s Line Messaging App to Buy Microsoft’s MixRadioDina Bass
Line Corp., the mobile-messaging application owned by South Korean search portal Naver Corp., said it agreed to buy Microsoft Corp.’s MixRadio streaming service as it seeks to speed up user growth.
Terms weren’t disclosed. Microsoft inherited the radio application, which offers a free streaming-music service on its Lumia phones, when it acquired Nokia Oyj’s handset division. MixRadio, which will keep its base in Bristol, U.K., has begun expanding into home audio and wearable devices, Line said in a statement.
Line, which competes with services like Facebook Inc.’s WhatsApp, had been considering an initial public offering in Japan and the U.S., and has since opted not to take that step this year. Led by Chief Executive Officer Akira Morikawa, Line has 170 million monthly active users in 230 countries, according to the statement today.
Microsoft CEO Satya Nadella has been trimming parts of the acquired Nokia businesses, including that company’s Android phone efforts, and has cut 12,500 jobs from the unit. The Redmond, Washington-based software maker didn’t immediately respond to a request for comment on the deal. MixRadio will continue to offer a personalized music service for Lumia phones, according to the statement.