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Napster acquired for $207M

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Music streaming service Napster has been acquired in a $207 million deal.

The buyer, 3D technology company Infinite Reality, intends to incorporate the service into virtual 3D spaces for music fans.

Originally launched in 1999 as a peer-to-peer file-sharing application, Napster shuttered in 2001 amid legal troubles. Napster has operated since 2016 as a music streaming service.

Read more from CNBC.

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