Muse Group - which, among other things, owns the Ultimate Guitar platform - has acquired sheet music publisher Hal Leonard in a deal backed by private equity outfit Francisco Partners.
The partnership of the two companies, an official statement declares, "creates a leading global music learning content platform, solidifies its competitive position in the music creation industry, and allows for significant growth potential to lead content and education in both the traditional and digital form".
Muse Group grew out of guitar tab database Ultimate Guitar, and also owns software like MuseScore and Audacity. Hal Leonard, meanwhile, is a leading player in the sheet music business, and also publishes lots of educational music books.
Confirming the deal from the Hal Leonard side, its Chairman Larry Morton says: “Hal Leonard and Muse have been working closely together in commercial partnerships for over fifteen years and have built trust and mutual respect over that time. Combining the strengths of both companies is a truly exciting prospect, full of potential ways to grow the music industry in new directions”.
Meanwhile, Muse Group CEO Eugeny Naidenov adds: “Our passion for improving the lives of all musicians has always been at the heart of Muse Group and we’re immensely excited to partner with the Hal Leonard team who share that passion".
The official announcement of the deal also confirms that "the combined company will apply Francisco Partners’ investment to accelerate organic and inorganic growth and is actively looking to partner with innovators in the sector". Which sounds like fun.
Francisco Partners is already active in the music business, owning majority stakes in both Native Instruments and Kobalt.