RealNetworks Inc., a provider of streaming digital music technology, said Thursday that it will manage ringtones and full-track music services for Sprint Corp.
Financial terms of the agreement were not disclosed.
A RealNetworks spokeswoman said the company is taking over from several vendors that performed different aspects of the services for Sprint. Customers who purchase ringtones, ringback tones — tones that callers hear — and music now will be using services handled by RealNetworks.
The value of the deal was not disclosed.
Shares of RealNetworks, based in Seattle, rose 6 cents to $4.45 in afternoon trading. Sprint, based in Kansas City, Mo., lost 10 cents, or 3 percent, to $3.26.