TeliaSonera is investing $115 million (€102 million) in Spotify as it looks to build on its existing partnership with the music streaming service.
The investment sees the Scandinavian operator take a 1.4 percent stake in Spotify.
Both companies said they are committing resources, staff and other, unnamed assets to “ignite the joint innovation agenda”.
This will focus on areas such as media distribution, customer insights, data analytics and advertising.
A joint TeliaSonera-Spotify team will be set up to run the projects.
Spotify CEO and Founder Daniel Ek commented: “We have a long and great relationship with TeliaSonera and I'm pleased we're able to take this to the next level together with this strategic partnership.”
TeliaSonera acquired exclusive rights for Spotify in the Nordic region in 2009, and has since then expanded the partnership to the Baltics.
Martin Lorentzon, Spotify Chairman of the Board, has been a member of TeliaSonera’s Board of Directors since 2013.
However, he was not involved in discussions about the new partnership.
TeliaSonera President and CEO, Johan Dennelind, said: “We’ve set out to create a New Generation Telco where innovation is key to our success.
“Spotify is a great company, loved by customers and with a world class take on innovation. I’m excited to join Spotify’s journey as investor and key partner.”
TeliaSonera is not the only operator to have partnered with Spotify.