MUMBAI: Universal Music Group (UMG) intends to acquire V2 Music Group, Ltd, which includes independent music company V2 Records.

Universal Music International (UMGI) chairman and CEO Lucian Grainge said, “V2 is recognised as a pioneer in independent music with a diverse artist roster that spans many musical genres. As such, V2’s roster will complement our existing business. By applying our expertise in artist development and in the digital space, we’ll be able to maximize and enhance the opportunities for its artists even further.”

Europe based V2 is home to artists such as Stereophonics, Paul Weller, Anais, Isabelle Boulay and Henri Salvador. In addition, V2 owns and operates Co-Operative Music, its in-house licensing organisation that includes independent labels as Bella Union, City Slang and Wichita Recordings; and artists such as Bloc Party, Peter Bjorn and John, and Go Team! among many others.