London - RoyaltyShare, a provider of digital royalty processing services to the entertainment industry, announced on Thursday that it has acquired Musicalc, a U.K.-based provider of music royalty accounting software.

Financial terms of the deal were not disclosed.

Founded in 1982, Musicalc offers its royalty software to over 100 European and U.S. customers, including Beggars Group and K-Tel/Dominion.

RoyaltyShare said the acquisition will extend its business into the European market, providing key staff for its European operations.

The company, which raised $5 million in April, has plans to extend its Web-based services to include support for music publishers and music publishing administrators.

Related Links:
http://www.prnewswire.co.uk/cgi/news/release?id=201823

http://www.musicalc.com

http://www.royaltyshare.com