Downtown, AVL/CD Baby Acquire B2B Music Tech Provider FUGA
Downtown Music Holdings announced today that its subsidiary, AVL Digital has acquired FUGA, the Netherlands-based B2B music technology and services company.
AVL, which was acquired just 10 months ago by Downtown, is the home of popular DIY music distributor CD Baby. FUGA will continue to function as a standalone business.
FUGA provides the tech behind more than 500 self-distributed indie labels and music distributors.
“We could not be more enthusiastic about becoming part of the Downtown 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. We share a common business approach and philosophy with Downtown, one rooted in providing control and flexibility for creators and rights holders — it is a perfect fit,” said FUGA CEO Pieter van Rijn.
“Pieter and the team at FUGA have built an impressive business that offers clients an impeccably high level of service. Their robust technology, well-earned reputation for innovation on behalf of the clients they serve, and global perspective of the digital music industry are welcome additions to our existing set of capabilities and services,” said AVL CEO Tracy Maddux.
“The exceptional team at FUGA and their unique focus on providing best-in-class capabilities has put the company at the forefront of empowering the fastest growing sector of the music industry. Following our acquisition of AVL, integrating FUGA is a natural next step for Downtown in developing businesses that support a more equitable and innovative music ecosystem,” said Downtown Music Holdings CEO Justin Kalifowitz.