In one of the hottest deals in the recent time, Best Buy Co. will shell out around 121 million bucks in cash for online music retailer Napster Inc. as per the official announcement…

As far as the returns are concerned, in lieu of the money paid, Best Buy gets a database of 700,000 subscribers to Napster’s digital entertainment services and its Web platform for streaming music.

Best Buy would be incorporating that system for selling other content apart from music.

Napster revamped its music download service in May, offering 6 million music tracks in MP3 format for sale without DRM

Best Buy has owned part of Napster since December 2004, when it paid $10 million for a stake in the company in a joint marketing agreement.

The board of directors of Napster have agreed to the mega deal, which is expected to be fully official any moment.

After taking the Napster’s cash reserves into considerations, the overall deal will cost Best Buy around $54 million!!

As per the wording of the official sources, Best Buy said it does not intend to make significant staffing changes. Under the terms of the deal, Napster CEO Chris Gorog and other managers will still hold onto the company!!

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