Francisco Partners (FP) is to take a controlling interest in Kobalt, an independent music publishing business that employs a technology platform to collect royalty micro-payments for over 700,000 songs.
Willard Ahdritz will continue as Kobalt’s Chairman, and the company will continue to be led by its existing management team Laurent Hubert, CEO, Jeannette Perez, President and COO, Catrin Drabble, CFO, and Nuno Guerreiro, CTO.
Alongside Francisco Partners, MUSIC and Dundee Partners are also investing in Kobalt. Matt Pincus, CEO of MUSIC, will join the Board of Kobalt post the deal closing.
Read more: Private Equity Wire
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