Sonos, the internet’s most popular music streaming service, has announced it will sell its U.S. operation to EMC Group for $8.8 billion in a deal that will bring the company’s U.k. operations to Germany, the company said in a filing with the Securities and Exchange Commission.
Sonos will now operate in more than 100 countries around the world, including the U.ks., with the company announcing that it plans to focus on the Asia-Pacific region.
The acquisition will create the largest music streaming company in Europe, with headquarters in London and headquarters in Frankfurt, according to the filing.
Sono’s chief executive officer, Tom Zander, said the move is part of a larger strategy to build a global company with the goal of creating “a leader in the streaming music industry.”
The acquisition is the biggest in Sonos’ history, and the largest in music streaming in Europe.
Sonus, which is valued at more than $8 billion, operates in more or less 200 countries around that world, and has been selling its music streaming business since 2005.
Sonys parent company, MediaTek, was acquired by Japanese electronics giant Sony in 2013.
Sonostat, the world’s second-largest music streaming platform, is owned by German rival Fraunhofer, and operates in the U, Europe, Australia and New Zealand.
Sonoscope, the U-K.
company that Sonos sold its U-sides to, is also moving to Europe and will now be part of the German music streaming giant KKG.
Sonora is also part of Sonos U.N. streaming business.