Los Angeles, California - March 24, 2020 (Newsfile Corp.) (Investorideas.com Newswire) Sanwire Corporation (OTC Pink: SNWR) ("Sanwire" or the "Company"), a diversified company with a focus on the entertainment industry, is pleased to announce that it has completed its due diligence process to acquire Intercept Music, Inc. ("Intercept") and has executed the final acquisition agreement to acquire 100% of Intercept.
Intercept (www.interceptmusic.com) is an online platform that allows any of the 10+ million independent musicians to upload their music, distribute and collect royalties from over 100 retailers such as Spotify, iTunes, Pandora, Amazon, and Google in 165 countries. The software automatically promotes artists' entire business, including their music, merchandise and performances in social media, playlists and even online radio. Artists can also track sales, monitor their marketing success, get state of the art analytics, and advice from experts. Intercept is a pioneer in online music social media marketing and distribution.
"This acquisition has been in the making for a number of months," said Tod Turner, CEO of Intercept Music. "During that time, we've seen the music business continue to grow while artists become more disenfranchised and the services they need more fragmented. When you add distribution, social media marketing, advertising, playlists, radio, licensing, booking and merchandise, and couple it with managing multiple revenue streams, there simply isn't enough time to learn this and still make great music. This merger allows us to expand quickly to solve this problem so artists and bands can get back to what they do best - making music."
"We are very excited that we have closed on our acquisition of Intercept," Mr. Whitcomb said. "We can now focus our efforts on this exciting industry, bringing in a team of seasoned professionals to greatly expand the business and shareholder value."
About Intercept Music, Inc.
Intercept Music is a technology company with the soul of an artist. In the crowded music marketplace today, 12 million artists are competing for fans and audiences that have almost unlimited access to music, whether from streaming services or online retailers. Intercept's software platform delivers an unsurpassed combination of distribution, marketing and expert coaching, empowering artists to connect with new audiences, measure their results and distribute and monetize their music like never before. For more information, please visit us at interceptmusic.com.
About Sanwire Corporation
Sanwire has been involved in aggregating technologies for a number of years. We look for opportunities in fragmented markets, where technology can be applied to consolidate services into a single platform of delivery. Our current focus is advanced entertainment technologies. For more information, please visit us at sanwirecorporation.com.
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