RealTime IT News

Ehyou Plus Divisions Diversify and Expand

Australian online business-to-business (B2B) firm Ehyou, owner of the Sprint media group of companies and music service provider MP3, is set to re-list on the Australian Stock Exchange on Tuesday.

The company's recent round of capital raising, which closed early and was oversubscribed, reached AUS$16.8 million (US$10.08 million), according to a company statement.

"We are very happy that Ehyou is coming back to the market," said Sprint co-founder and Ehyou chief executive officer Domenic Carosa. "Ehyou is being very well received in the investment community and we have significant business opportunities ahead of us and are pleased to be able to share these with our shareholders as a listed public company," he said.

MP3, a division of Ehyou, has also announced an agreement with Microsoft, which will feature the MP3 site in its Windows Media Player (WMP) Guide, a multimedia services directory.

Under the deal, MP3.com.au will allow users of the Microsoft site to listen to music in the Windows Media Player format. In return, the Media Guide for Microsoft will list MP3.com.au as an online supplier of Australian music.

Microsoft will launch an Australian version of the Media Guide later this month.

Last week MP3 struck an alliance with Internet hub Sofcom to supply the site with a customised digital music channel.

MP3.com.au will provide Sofcom with a channel containing streaming music tracks, an option to download, a radio show, artist profiles and music news. The two companies will also explore e-commerce opportunities.

MP3 also provides the Yahoo! Australia and New Zealand portal with an MP3.com.au Australian Digital Music Charts service.