GCA Advises TIDAL On Its Strategic Investment From Sprint
We are pleased to announce that our client TIDAL, a global music and entertainment platform, has sold 33 percent of the company to Sprint (NYSE: S) while establishing a strategic partnership.
The partnership will soon give Sprint’s 45 million retail customers unlimited access to exclusive artist content from TIDAL not available anywhere else. JAY Z and the platform’s artist-owners will continue to run TIDAL’s artist-centric service as it pioneers and grows the direct relationship between artists and fans.
GCA acted as the exclusive financial advisor to TIDAL in connection with this transaction.
TIDAL is a global, experiential, entertainment platform built for fans, directly from artists around the world. TIDAL members enjoy exclusively curated content that directly connects artists with their fans in multiple ways. The service offers high-fidelity, CD sound quality music, high resolution video, an opportunity to discover new artists via TIDAL Rising and unique experiences via TIDAL X. TIDAL is available in more than 52 countries, with more than a 42.5 million song catalog and 140,000 high quality videos. For more information, visit www.tidal.com.
Sprint (NYSE: S) is a communications services company that creates more and better ways to connect its customers to the things they care about most. Sprint served 60.2 million connections as of September 30, 2016, and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; leading no-contract brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. Sprint has been named to the Dow Jones Sustainability Index (DJSI) North America for the past five years. For more information, visit www.sprint.com.
GCA is a premier global investment bank serving a broad client base through a range of advisory services including mergers and acquisitions, debt and equity capital markets, private funds, restructuring, and asset management. GCA is a global advisor providing unbiased, insightful advice and is focused on building long-term relationships based on trust. GCA delivers deep expertise in many key industries and has a particular focus in Technology, Software, Media, Digital Media, Communications, Industrials and Industrial Technology, Healthcare, Financial Institutions, FinTech and Business Services. GCA has teams of highly experienced bankers in San Francisco, New York, Tokyo, Frankfurt, London, Manchester, Milan, Mumbai, Munich, Osaka, Shanghai, Singapore, Tel Aviv and Zurich. For more information, visit gcaglobal.com.