They will operate as independent companies under the newly-created parent entity.
Privately-owned audio tech company iZotope—which recently received a SciTech Academy Award for its RX audio processing system—and music creation product developer Native Instruments have restructured as sister companies in newly-created parent company Music Creation Group, which is backed by investment firms Francisco Partners and EMH Partners, the companies reported.
The terms of the deal were not disclosed. Mark Ethier, co-founder and CEO of iZotope, and Constantin Koehncke, CEO of Native Instruments, will serve as co-presidents of Music Creation Group.
Both Cambridge, Mass.-based iZotope and Berlin-headquartered Native Instruments would continue to operate as independent companies, with their brands and teams. As sister companies, they also plan to share technology and expertise. Said Ethier in a released statement: “We both look to make it easier for engineers, producers and musicians to realize their creative vision, and together, we will be able to break down barriers that have stood in the way of that goal.”
Koehncke added that their shared goal is to "empower producers of all levels with everything they need, from instruments and effects to a supportive and thriving community.”
Matt Spetzler, co-head Europe and partner at Francisco Partners, which was already an investor in Native Instruments, said in a released statement, "As we have gotten to know each company and their teams, we are convinced that they will transform and expand the industry by working together."
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March 11, 2021 at 09:00PM
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IZotope, Native Instruments Form Music Creation Group - Hollywood Reporter
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