Yesterday it was announced that streaming service Pandora would be acquiring parts ("several key assets") of fellow music streaming entity Rdio, after the latter filed for bankruptcy. The purchase price is $75 million, and includes all of Rdio's technology and intellectual property, with "many employees" offered a chance to go and work at Pandora; an implication that not everybody's going to have a job by the end of all this.

With Pandora's royalty rates set by the government (they're low, and labels don't like that), it hasn't quite seen the traction of other streaming services, most of which - including Spotify - are younger than the 15-year-old company. However, the acquisition of Rdio could help things to turn around: not only will its much lauded on-demand service fill an obvious void for Pandora, but also Rdio's current presence in over 100 countries is certainly a step up from the very limited markets of US, New Zealand, and Australia in which Pandora currently operates.

The sale, however, is a big loss for Rdio and its investors - the company has raised $125 million to date, and was once valued at $500 million. Ouch.