Gibson announces intention to acquire Cakewalk

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- New TASCAM Professional Software brand will also be created to handle publishing, support, and promotion -

Boston, Massachusetts, USA; Nashville, Tennessee, USA; and Tokyo, Japan – September 23, 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.”

FAQ: Gibson Brands Announces Intention to Acquire Cakewalk Inc.

Why would a guitar company want to acquire Cakewalk?

Gibson Brands encompasses not only Gibson guitars, but also high-end consumer electronics (Onkyo, TEAC) and pro audio (TASCAM, KRK, Stanton, and Cerwin Vega). Cakewalk will be a vital part of the pro audio group.

Will the name Cakewalk be retained?

Cakewalk will transition to the name Cakewalk Development to underscore the emphasis on R&D and new product development, but a new brand, TASCAM Professional Software, will be created to support, promote, and publish Cakewalk’s professional line of products. As TASCAM is the company that launched a revolution in recording, the pairing with Cakewalk is a natural.

Will SONAR continue to be developed?

Of course! As a market and technology leader with many industry firsts, SONAR will be the flagship product of TASCAM Professional Software. The program will continue to innovate in exciting, unique, and even surprising ways.

Who will handle technical support and questions about the program?

Cakewalk will continue to handle customer support and questions.

Will Cakewalk develop a Mac version of SONAR?

Many musicians already run SONAR on the Mac using Boot Camp and various other solutions, so there are no plans for a Mac version at this time. However, Mac and iOS support for other products will play an important part in Cakewalk’s future.

What will happen with Cakewalk’s consumer-oriented software, like Music Creator?

Cakewalk has been developing a family of extremely exciting consumer-oriented products, and now has the resources to bring these to market in parallel with the company’s professional software. We plan to continue branding them as Cakewalk products to differentiate them from our professional products.

Will Cakewalk be absorbed physically into Gibson or TASCAM?

No. Cakewalk will retain its offices in Boston, its current staff, its management, and its highly popular web site. Gibson Brands wanted to acquire Cakewalk because of its people, not just the products they’ve created.

Can we expect to see Cakewalk’s software expertise in products from other Gibson Brands?

Yes. One of the main strengths of Gibson Brands is the constant dialog among its divisions. As just one example, the possibilities of combining TASCAM’s leadership in professional audio hardware with Cakewalk’s industry-leading software are virtually unlimited.

Will there be additional new products?

In addition to continuing the great work they’ve done in the past, we believe there are new areas where Cakewalk can apply their expertise, leading to exciting new products for current Cakewalk fans as well as those who are about to become Cakewalk fans.