Gibson Brands Announces Intention to Acquire Cakewalk Inc

Gibson Brands has entered into a letter of intent with Roland Corporation and Cakewalk, Inc. for Gibson to acquire Cakewalk pursuant to definitive acquisition agreements to be negotiated by the parties. Following the closing of the proposed acquisition, a new brand, TASCAM Professional Software, will be created to support, promote, and publish Cakewalk's current and future professional products.

Cakewalk President Michael Hoover notes "The world's most iconic guitar, Gibson's Les Paul, bears the name of the inventor of multitrack recording—and TASCAM launched a musical revolution by bringing multitrack recording to the masses. The combination will make a fitting home for products developed by Cakewalk."