BandLab, the quickly growing investment group behind an expanding range of music making hardware and software lines, has today announced the acquisition from Gibson Brands of "the complete IP of Cakewalk Inc".
This follows Gibson's decision to cease development on all Cakewalk product, including the well-established Sonar DAW, last year, and the group's recent response to widespread reports of its worsening debt problems.
“We have been monetizing assets like stock holdings, real property and business segments," said Gibson Brands CEO Henry Juszkiewicz in a defiant statement earlier this week, and this deal looks like a first step along that road.
BandLab itself seems to be travelling in the opposite direction, having recently acquired and relaunched brands including DJ streaming platform Chew, and cult guitar marques Harmony and Teisco.
Good news
The obvious good news is that the deal removes any doubts around support for Cakewalk products in the short term. In the medium to long term, it will be interesting to see if and how BandLab intends to integrate Cakewalk's software and tech into its own online music creation platform.
CEO of BandLab Technologies, Meng Ru Kuok said, “We are very excited to be bringing Cakewalk Inc’s products into the BandLab Technologies stable. Cakewalk has been an industry leader in professional music software, delivering cutting edge technology that has empowered producers and artists alike around the world for more than 30 years.
"We have immense respect for Cakewalk’s legacy and the incredible community of people who love the brand and rely on its products in both their personal and professional lives."
We'll keep you informed of developments. In the meantime, keep a beady eye on cakewalk.bandlab.com for updates.
