Gibson Brands to acquire Cakewalk and create Tascam Professional Software
Published: ASIA
WORLD: Gibson Brands has entered into a letter of intent with Roland Corporation and Cakewalk Inc for Gibson to acquire Cakewalk Inc, in accordance with definitive acquisition agreements to be negotiated by the parties. 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.
‘If imitation is the sincerest form of flattery, Cakewalk must be very flattered that so many of their innovations have become industry standards,’ said Gibson Brands chairman and CEO, Henry Juszkiewicz. ‘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 worldwide.’
‘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,’ added Cakewalk president Michael Hoover. ‘The combination will make a fitting home for products developed by Cakewalk.’
‘The future of recording is an intelligent, intuitive combination of both hardware and software,’ commented Tascam president, Yuji Hanabusa. ‘Cakewalk and Tascam will have the power to realise this future.’
‘This isn’t just about wanting to acquire Cakewalk’s respected product line,’ concluded Mr Juszkiewicz. ‘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.’
The Cakewalk staff and headquarters will remain in Boston as an independent division.