EMusic.com, Inc. Tuesday announced it will acquire privately-held CDuctive.com, representing over 350 independent labels across the dance/electronic, indie rock and hip-hop genres. The stock-for-stock transaction is valued at approximately $38 million.

Completion of the acquisition is expected during the current quarter. CDuctive is owned by Group K Inc.

"This acquisition combines the Internet's two leading aggregators of downloadable content and allows us to greatly expand our offering -- especially in some very key musical genres," said Gene Hoffman, EMusic.com president and CEO.

CDuctive.com's catalog features music from such popular artists as Black Flag, Built To Spill, Coldcut, DJ Spooky, DJ Vadim, The Donnas, Eminem, Green Day, Hole, Iggy Pop, Invisibl Skratch Piklz, Mary Lou Lord, Derrick May, Melvins, Mix Master Mike, Red Hot Chili Peppers, Roni Size, Sleater-Kinney, Elliot Smith, Jon Spencer Blues Explosion and X-ecutioners.

"Since the beginning, we have been committed to representing the most cutting-edge underground artists and labels online," said John Z. Rigos, CEO and co-founder of CDuctive.com. "The combination of EMusic and CDuctive creates the Web's most comprehensive downloadable music site -- providing a powerful and unparalleled music offering to today's digital music fans."