On Tuesday, Amsterdam-based technology and services company FUGA announced its acquisition of Nashville-based rights management and creative workflow company Songspace. Songspace is known for its work with music industry leaders like Kobalt, Reservoir Media and Downtown Music Publishing.
According to a press release detailing the acquisition, Songspace “will continue to operate as a standalone platform with its entire leadership remaining in place,” with FUGA “mak[ing] a significant investment into the company over the next two years to build out its offering and further the team’s already well-established expertise.”
“New technology has the potential to revolutionize digital rights management for rightsholders, streamlining the ecosystem in a way which makes businesses more efficient and profitable,” FUGA CEO Pieter van Rijnin said in a statement announcing the acquisition. “We are looking forward to significantly investing in Songspace’s excellent platform and creating synergies in the field of data transparency and matching, which will ultimately enable our clients to manage all rights data under one roof.”
“I can’t say enough about how hard the Songspace team worked for this outcome and it’s just the beginning,” Songspace co-founder and CEO Robert Clement added. “Our mission is to build enterprise-level products and services with the best user experience possible and make FUGA+Songspace the only independent platform for all music content owners.”
Clement and co-founder Christopher Igoe launched Songspace in 2014. Since then, the company has brought its innovative approach to streamlining publishing assets to over 250 clients. FUGA’s client roster, which will combine with Songspace’s, includes Epitaph Records and mtheory.