Following months of speculation about its financial difficulties, Gibson Brands has sold its mothballed Cakewalk DAW software brand to Singapore’s fast-growing BandLab Technologies. The sale will come as a relief to Cakewalk’s many users, following November’s announcement from Gibson that it was no longer developing the product. https://www.musicinstrumentnews.co.uk/2017/11/23/gibson-cans-cakewalk-users-face-dead-end/
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’.
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, BandLab says.
Founded in 2016, BandLab, the group’s flagship digital product, is a social music platform that enables creators to make music and share the creative process with other musicians and fans. Other notable brands within the portfolio include Rolling Stone, the US pop culture and music magazine, MONO, an award-winning music lifestyle product company, and Swee Lee, the Asian online retailer and distributor of musical instruments and pro-audio brands.