Best Buy has agreed to purchase Napster Inc. for $121 million, which values Napster at $2.65 per share. Like many of us, you might be wondering why Best Buy wants the once relevant Napster. According to Best Buy, they intend to use Napster’s assets to reach new customers with an enhanced experience for exploring and selecting music as well as other digital entertainment products over an increasing number of devices. Um, okay. Best Buy doesn’t have any plans to relocate Napster’s headquarters in Los Angeles yet, and they have no plans to make significant changes in personnel. I guess they just felt like shopping.

Napster has walked onto Apple’s beach and kicked sand in the face of iTunes. Napster now claims to have the largest MP3 store around with 6 million tracks. Napster also claims that its tracks are iPhone and iPod compatible.

Napster says that its MP3 store is 50% larger than any other MP3 store and has the largest major label catalog of any digital music store. It also claims to have the largest catalog of independent music available as well.