Today's purchase is the latest step in the company's aggressive expansion.
Downtown Music Holdings subsidiary AVL Digital Group -- a global network of music distribution and monetization brands, including CD Baby and AdRev -- has acquired the Netherlands-based B2B music technology and services company FUGA, it was announced Wednesday (Jan. 22). FUGA will continue functioning as a standalone business following the acquisition.
Since 2008, FUGA has provided content management, workflow and distribution services to more than 500 distributors, record labels, artist services companies and other rights holders via its signature FUGA platform, providing direct access to over 260 digital service providers worldwide. It also offers full-service marketing, promotion, monetization and label services to the independent music sector.
In a statement, FUGA CEO Pieter van Rijn said the company “could not be more enthusiastic” about becoming part of the AVL portfolio. “This acquisition will give FUGA the backing to achieve our global ambitions in this space so we can continue serving the independent music community, developing our service offering and improving our technology,” he continued. “We share a common business approach and philosophy with Downtown, one rooted in providing control and flexibility for creators and rights holders.”