MakeMusic, Inc. Enhances Technology Leadership by Purchasing Recordare Assets
November 02 2011 - 3:24PM
Business Wire
MakeMusic, Inc. (NASDAQ: MMUS) announced it has entered into an
agreement to acquire selected assets of Recordare® LLC, the
Internet music publishing and software company. Closing is expected
to occur during the fourth quarter.
Under the terms of the agreement, MakeMusic is purchasing the
MusicXML™ open format and Dolet® software technology, including
copyrights, source code, and trademarks. MakeMusic also announced
that the founder of Recordare and inventor of MusicXML, Michael
Good, will be joining MakeMusic as the Director of Digital Sheet
Music.
“This acquisition demonstrates our commitment to the ongoing
development and support of an open notation format to the entire
music community,” said Karen van Lith, MakeMusic CEO. “The synergy
between MusicXML and Dolet software enhances MakeMusic’s renowned
family of music products, further establishing us as the technology
leader, and I am thrilled to have the creative talents of Michael
Good to help us drive innovation in the music industry.”
"Today is a momentous day for Recordare and MusicXML,” said
Michael Good, Recordare founder and CEO. “MakeMusic has been
MusicXML's earliest and most significant supporter. It’s the
world’s largest company devoted to music notation, practice, and
digital sheet music technology. In considering the sale of
Recordare’s intellectual property, I was looking for a company
committed to creating new advances in the world of interactive
digital music notation. MakeMusic was clearly the best fit.”
MusicXML has become the standard for musical notation
interchange and is an Internet-friendly way to publish musical
scores. The technology enables musicians to distribute interactive
sheet music online and to use sheet music files with a wide variety
of musical applications. MusicXML will continue to be available
under the same open and royalty-free license as before and is
supported by more than 150 applications.
Recordare’s Dolet software for Finale® and Sibelius® uses the
MusicXML format to provide a universal translator. Just as
word-processing and spreadsheet programs have been sharing formats
for years, with MusicXML, musicians can write in one program and
share their creations with people who prefer to use another
program. Upon closing, MakeMusic will provide the Dolet software at
no charge.
Dozens of companies and organizations support MusicXML,
including Avid Technology Inc., Noteflight, LLC, Microsoft
Research, Steinberg Media Technologies GmbH, Cakewalk Inc., Notion
Music Inc., Musitek Corporation and the Massachusetts Institute of
Technology Music Program.
About MakeMusic, Inc.
MakeMusic®, Inc. is a world leader in music technology whose
mission is to develop and market solutions that transform how music
is composed, taught, learned and performed. For more than 20 years,
Finale® has been the industry standard in music notation software,
enabling composers, arrangers, musicians, teachers, students and
publishers to create, edit, audition, print and publish musical
scores. MakeMusic is also the creator of SmartMusic® interactive
software that is transforming the way students practice. With
SmartMusic, students and teachers have access to thousands of band,
orchestra and vocal pieces allowing students to practice with
background accompaniment and get immediate feedback on their
performance. SmartMusic allows teachers to individualize
instruction and document the progress of every student. The
SmartMusic® Inbox™, an Android™ and Apple® mobile application,
provides additional access for teachers to review, grade, and
comment on student assignments. MusicXML is an Internet-friendly
way to publish musical scores, enabling musicians to distribute
interactive sheet music online and to use sheet music files with a
wide variety of musical applications. Additional information about
this Minnesota company can be found at www.makemusic.com.
Cautionary Statements
Certain statements found in this release may constitute
forward-looking statements as defined in the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements reflect the speaker’s current views with respect to
future events and include any statement that does not directly
relate to a current or historical fact. Our forward-looking
statements in this release relate to our expectations regarding the
anticipated timing for completing the acquisition of assets from
Recordare, the expected benefits that will result from the
acquisition, our intent to pursue ongoing development and support
of an open notation format and our pricing expectations for the
Dolet software. Forward-looking statements cannot be guaranteed and
actual results may vary materially due to the uncertainties and
risks, known and unknown, associated with such statements. Examples
of risks and uncertainties for MakeMusic include, but are not
limited to: (i) unexpected delays in satisfying closing conditions
for the acquisition; (ii) unexpected difficulties or delays in
integrating the Recordare assets with MakeMusic’s business; (iii)
our ability to retain Michael Good as an employee ; and (iv) those
factors described from time to time in our reports to the
Securities and Exchange Commission (including our Annual Report on
Form 10-K). Investors should not consider any list of such factors
to be an exhaustive statement of all of the risks, uncertainties or
potentially inaccurate assumptions investors should take into
account when making investment decisions. Shareholders and other
readers should not place undue reliance on “forward-looking
statements,” as such statements speak only as of the date of this
release. We do not intend to update publicly or revise any
forward-looking statements.
Makemusic (NASDAQ:MMUS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Makemusic (NASDAQ:MMUS)
Historical Stock Chart
From Jul 2023 to Jul 2024