Gibson Brands Announces Intention to Acquire Cakewalk Inc.
Nashville, TN (September 24, 2013) -- Gibson Brands, the number one company in music and sound, has entered into a letter of intent with Roland Corporation and Cakewalk, Inc. for Gibson to acquire Cakewalk pursuant to definitive acquisition agreements to be negotiated by the parties. According to Gibson Brands Chairman and CEO Henry Juszkiewicz, “If imitation is the sincerest form of flattery, Cakewalk must be very flattered that so many of their innovations have become industry standards. As an addition to the Gibson Pro Audio Group, Cakewalk will enhance their flagship professional products, pursue provocative R&D initiatives, and continue to serve the needs of musicians and producers world-wide.”
Following the closing of the proposed acquisition, a new brand, TASCAM Professional Software, will be created to support, promote, and publish Cakewalk’s current and future professional products. Cakewalk President Michael Hoover notes “The world’s most iconic guitar, Gibson’s Les Paul, bears the name of the inventor of multitrack recording—and TASCAM launched a musical revolution by bringing multitrack recording to the masses. The combination will make a fitting home for products developed by Cakewalk.” TASCAM President Yuji Hanabusa states “The future of recording is an intelligent, intuitive combination of both hardware and software. Cakewalk and TASCAM will have the power to realize this future.”
The Cakewalk staff and headquarters will remain in Boston as an independent division. Juszkiewicz concludes, “This isn’t just about wanting to acquire Cakewalk’s respected product line. We’re equally excited about what Cakewalk’s R&D labs are developing for current Cakewalk fans—as well as those who are about to become Cakewalk fans.”
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