(UPDATED) Beats Music has sold the Topspin music ecommerce platform to Transom Capital Group, owners of BandMerch and Cinderblock. They will continue to operate the ecommerce and fulfillment operation under the Topspin Media name, which was also part of the acquisition.
Terms of the transaction were not disclosed.
In the announcement, former Topspin and now Beats Music CEO Ian Rogers said, "BandMerch and Cinder Block merged into one company last month to become a leader in the sports and entertainment merch space. Adding Topspin's technology and artist relationships to that mix is the best home I could have envisioned for them."
The combined companies rosters includes The Who, Manchester United, Black Veil Brides, Asking Alexandria, Kid Rock, Rise Against, All Time Low, Coheed and Cambria, Death Cab for Cutie, Misfits, Postal Service, The National and Flogging Molly.
"Topspin will continue to serve its customers in an uninterrupted fashion," according to its new owners, "with new services to be offered soon." Topspin will now operate from BandMerch’s headquarters in Los Angeles, CA.
Beats Music will continue to operate the Topspin Artistlink platform that enables artist-controlled profiles and commerce on Beats and MTV.com. Rogers promises, "exciting things built on the Topspin Artistlink platform that we'll unveil in the coming months."
Further consolidation in the artist services space is expected in the coming months.