Sony Music Entertainment has invested in IODA, an online music distribution company. Financial details about the transaction were not available. But Sony did mention that they will be integrating IODA’s services into RED, a company that Sony bought back in 1994.
IODA has about 2 million music tracks and about 2,000 videos in their collection. Some of IODA’s partners include iTunes, Amazon.com, and MySpace Music.
[via paidContent]