Distributor FUGA is getting its wallet out again: this time with an acquisition of Nashville-based rights-management firm Songspace.
Billed as “your online song catalogue”, the company promises musicians that its tool can gather all their music, lyrics, metadata and other information in one place, while sharing it with collaborators and other industry folk.
The company already has 250 publisher and label clients including the likes of Kobalt, Downtown Music Publishing and Sentric.
The acquisition is for an undisclosed amount, and will see Songspace continuing to operate as a standalone platform under its current management. “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,” said FUGA CEO Pieter van Rijn.