BandLab Technologies—an ever-expanding collective of music gear brands led by its flagship collaboration platform—announced today the "acquisition of certain assets and the complete intellectual property of Cakewalk Inc. from Gibson Brands."
The news follows Gibson's closure of Cakewalk operations this past November. Cakewalk—which was founded in 1987—is primarily known for developing SONAR, a pro-level recording DAW.
The announcement also comes on the heels of the much-discussed airing of Gibson's mounting financial troubles this past week. According to a recent statement by CEO Henry Juszkiewicz, Gibson has "... been monetizing assets like stock holdings, real property and business segments that could not achieve the level of success we expected." The sale of Cakewalk assets can be viewed as part of a general streamlining of Gibson's business holdings.
The acquisition by BandLab also follows the company's recent announcement that it would be rebooting both Teisco and Harmony, adding the two historic guitar brands to a collective that includes Mono Creators, the DJ streaming service Chew, and several other forward-thinking music entities.
At this point, it's not entirely clear how these Cakewalk assets will fit into BandLab's existing platform, though more information and a complete roadmap should be made public in the coming months.
Take a look at BandLab's press release below for more details from the company.
SINGAPORE, FRIDAY 23 February 2018; BandLab Technologies today announced the acquisition of certain assets and the complete intellectual property of Cakewalk Inc. from Gibson Brands.
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.
The teams at both Gibson and BandLab felt that Cakewalk’s products deserved a new home where development could continue. We are pleased to be supporting Cakewalk’s passionate community of creators to ensure they have access to the best possible features and music products under the BandLab Technologies banner,” he said.
The deal includes only the transfer of Cakewalk Inc.’s assets and intellectual property. No other details of the deal have been released. More information will be shared about product roadmap and future features in due course.