Montreal firm Stingray Digital Group has acquired Brava Group, an operator of three niche music channels based in the Netherlands.
Stingray will become owner of the Brava NL and Brava HD channels, which are dedicated to opera, ballet, and classical music; as well as DJAZZ.tv, a blues, soul, and gospel channel.
The deal includes an initial payment of $8 million and additional payments of up to $3 million based on performance.
The company says together, the commercial-free TV channels have about 35 million subscribers in Europe, Africa, the Middle East, and the Caribbean.
Stingray, which pipes mood-setting music into retail stores like Aldo, Canadian Tire, and McDonald's across the globe, has been looking to expand its presence since raising about $140 million through an initial public offering on the Toronto Stock Exchange in June.
The company also announced its Stingray Music streaming service is now available on the Sonos Wireless HiFi System.