Gramophone is a New York City-based artist and brand development company consisting of boutique agencies that represent artists and offers services in public relations, strategic marketing, brand positioning, graphic design and social media management.
Financial terms were not revealted.
LiveOne said it expects the acquisition to be immediately accretive to its earnings and strengthen its balance sheet. As part of the acquisition, Gramophone president, founder and sole shareholder Eshy Gazit, and co-founder and COO Patrick Ermlich, will remain as the company's senior leadership team.
Shares of LiveOne are up nearly 1% in early trading.
Price: 2.92, Change: +0.01, Percent Change: +0.17
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