Atrinsic launches Kazaa app for iPad, shares soar

Reuters News
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Posted: Sep 20, 2011 10:49 AM
Atrinsic launches Kazaa app for iPad, shares soar

(Reuters) - Atrinsic Inc said the streaming application for its popular Kazaa digital music service is now available for download through Apple Inc's app store, sending its shares up 67 percent in heavy volumes.

The Kazaa music app would be available for free download on Apple's best-selling iPhone and iPad products, New York-based Atrinsic said in a statement.

"Kazaa mobile will be available on more and more devices in the future," the company said.

In March, Atrinsic said Kazaa, an on-demand streaming music service that it acquired last year, could be accessed without an application -- a move that would help it skirt Apple's plans to take a slice of its revenue from online subscriptions through the App Store.

Atrinsic shares were up 46 percent at $3.29 on Tuesday on Nasdaq. They touched a high of $3.75, earlier in the session.

(Reporting by Saqib Iqbal Ahmed in Bangalore; Editing by Viraj Nair)