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This article was published on June 11, 2012

    UBC Media strikes deal to become largest shareholder in audio sharing platform Audioboo

    UBC Media strikes deal to become largest shareholder in audio sharing platform Audioboo
    Jamillah Knowles
    Story by

    Jamillah Knowles

    Jamillah is the UK Editor for The Next Web. She's based in London. You can hear her on BBC Radio 5Live's Outriders. Follow on Twitter @jemi Jamillah is the UK Editor for The Next Web. She's based in London. You can hear her on BBC Radio 5Live's Outriders. Follow on Twitter @jemimah_knight or drop a line to [email protected]

    Audioboo, the social audio sharing service has seen a shift in shares as UBC Media Group (UBC) announced a partnership with Imagination Technologies.

    In a bundle of announcements today, including its appointment to handle the global licensing and sales of the RadioPlayer Internet media player and a BSkyB contract providing coverage of the Cambridge Folk Festival to Sky Arts 1 HD and Sky Go channels, UBC mentioned the new deal.

    Chief Executive of UBC, Simon Cole tweeted the news about the consolidation in relation to Audioboo:

    In 2010, Audioboo closed its first round of funding. At that time, both companies got involved and Audioboo was set to work with Imagination Technologies to integrate its services into the next generation of PURE Internet-connected radios.

    Originally UBC purchased an 8% stake in Audioboo and as part of the new agreement has bought Imagination Technology’s shares, upping its total to 40.3%.

    Cole told the Guardian that this new deal underlines the company’s move away from radio and TV production into technology.

    UBC’s software division, Unique Interactive, has been working closely with the Radioplayer consortium for two years and is already responsible for the software that manages both station listings and search functionality. So it seems that the shift from production to technology is profound on many levels for the company.