When Loudeye bought p2p scalp-hunter-cum-online-spoofing company Overpeer in March last year, it guaranteed its then new Overpeer Titanium Service was 99% effective in, "preventing the illicit sharing of digital media across peer-to-peer networks".

It also claimed protection for anyone and everyone - "music, film/video, game and software industries".

That should have had them falling all over themselves to use it.

However, it wasn't to be.

We already knew the claims were no more than marketing equine excreta, but it seems would-be clients arrived at the same conclusion and accordingly, "Seattle-based Loudeye said Friday that it is shuttering its Overpeer division, effective immediately, in an attempt to bolster the parent company's bottom line," says CNET News.

"Executives did not immediately return a request for comment. However, in a filing with federal regulators in November, Loudeye said the Overpeer division had seen declining revenue through much of 2005 and that a major client had dropped its services at the end of the second quarter."

The company is seeking to sell the Overpeer assets, it said in a statement, adds the story.

Also read:-
99% effective - Loudeye joins spoofing wars, May 31, 2004
CNET News - Clogger of P2P networks to shut down, December 9, 2005