imeem hopes SNOCAP buyout will help it stay ahead of MySpace
Music-focused social networking service imeem announced today that it has acquired SNOCAP, a provider of digital licensing and copyright management services. The acquisition will allow imeem to filter through the music uploaded by its users, identify whether the artists have approved the music for sharing, and manage payments to those artists. imeem has already been using SNOCAP’s technology for the past year, but went forward with the acquisition in order to help expand both companies’ offerings.
Full article: arstechnica.com