In announcing the leadership transition, Meder noted, “During John Perrachon's tenure, TouchTunes achieved significant success in its core business of supplying digital-downloading jukeboxes and music services to North America's coin-machine operators and distributors. “In 2003, we had an installed base of 7,300 jukeboxes. At the end of 2006, we had 23,000. And we surpassed the milestone of having our jukeboxes download and play a billion songs, a feat still unmatched by any of our competitors. Thanks to John and his team, TouchTunes is in an enviable position.” Matin said, “I have inherited an outstanding team of coin-op and music industry professionals, all of them passionate about innovation and customer satisfaction. They'll be the foundation for our next stage of growth and a new era of revenue opportunities for TouchTunes and its partners. I look forward to working with our operators and distributors in building on the momentum TouchTunes has established and capitalizing on the tremendous opportunity we share in the market.” Prior to joining TouchTunes, Matin was Chief Executive of Softricity, a software company acquired by Microsoft in 2006. He was also executive vice president of worldwide sales for Veritas, a data and storage management company.

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