Management to remain in place.
Muze, one of the two main providers of music data content to online and brick-and-mortar retailers, has been sold to Enterprise Partners Venture Capital, a firm that invests in technology companies. Terms of the deal were not disclosed, other than the acquisition was financed purely by equity.
Paul Zullo, president of New York-based Muze, says management will remain in place with the company. “The commitment going forward is to develop further product enhancements and to grow the company,” says Zullo, one of the company’s co-founders. Muze had been owned by the John Kluge Co. since the early 1990s. Kluge was the architect of Metromedia.
Enterprise Partners Venture Capital, based in San Diego, has more than $1 billion in portfolio assets, owning many companies that either provide technology to the wireless industry or deliver electronic content.
Zullo says synergies with other companyies in the Enterprise Partners portfolio should enhance Muze's offering. “In addition to providing data, we will be able to offer a much higher degree of integrated technology solutions to our customers,” he says.
Car Eibl, managing director with Enterprise Partners, says the firm owns a wide array of technology companies ranging from the wireless industry to biotechnology. In total, the company’s website lists 81 acquisitions including, M7 Networks, which provides technology for game publishers and wireless carriers; the Return Exchange, which develops and markets software solutions that authorize returned merchandise for the retail industry; and the MEI Computer Technology Group, which develops and markets trade and retail management solutions for the consumer goods industry.
Eibl says he believes that Enterprise Partners will help Muze enhance the delivery of its services and data to the market.
Muze’s main competitor, the All Music Guide, is now under the ownership of the Yucaipa Cos., although it is reportedly up for sale.
Until late last year, All Music Guide was a part of Alliance Entertainment Corp., but when Yucaipa agreed to merge the Coral Springs, Fla., wholesaler with Source Interlink, the California investment firm retained ownership of AMG.