Nashville, TN (February 27, 2018)—Gibson Brands has sold its Cakewalk music division to Singapore-based BandLab Technologies. The deal is transfers the software company’s intellectual property, patents, trademarks and various assets related to Cakewalk's products, but does not include the operating company (Cakewalk, Inc.). No financial details were disclosed.
The move comes three months after financially beleaguered Gibson announced it was ceasing new product development at Cakewalk, stating the move was made to “better align with [Gibson Brands’] acquisition strategy that is heavily focused on growth in the global consumer electronics audio business under the Philips brand.”
BandLab, a holding company established two years ago, owns a number of notable brands, including its namesake BandLab, a social media/music creation platform; MONO, an MI accessories brand; and 49% of Wenner Media, publisher of Rolling Stone.
“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,” Meng Ru Kuok, CEO of BandLab Technologies, said in a statement.
BandLab plans to maintain Cakewalk’s online forums, and to wit, Kuok announced on them that it would ensure existing SONAR owners would not have to pay to “cross-over/cross-grade to the future flagship product.” The post also announced that former Cakewalk CTO Noel Borthwick and former senior engineer Ben Staton are joining the new Cakewalk engineering team.
Initially founded in 1987 as Twelve Tone Systems, Cakewalk was an early pioneer of MIDI sequence software, over time growing to develop products like its respected SONAR DAW, various virtual instruments and effects, and a handful of entry-level musical consumer products. Following eight years of growing collaborations, Roland invested in the company in 2003, eventually taking a majority stake in 2008. Cakewalk was sold to Gibson Brands in 2013, a purchase made with the intention of forming a new brand, TASCAM Professional Software, that would publish Cakewalk products and develop joint products with TASCAM.
Cakewalk • www.cakewalk.com