Propellerhead Software announced today that the company is bringing on board private equity fund Verdane Capital IX (Verdane) as a new partner. Verdane will become an active owner of Propellerhead.
Verdane has experience driving growth in software and e-commerce companies. Propellerhead founder & CEO Ernst Nathorst-Böös will continue to lead the company.
Propellerhead is focusing intensively on increasing the development team and pace, strengthening the company’s position in- and outside of the music industry and further developing their mobile music-making platform.
“Propellerhead is a vital part of the ‘Swedish music wonder’ phenomenon and possesses some of the leading expertise in the world of digital music software and digital sound processing,” says Pål Malmros, Partner at Verdane Capital Advisors. “We are excited about further strengthening Propellerhead’s leadership position in the market.”
“We have revolutionized the music industry several times and now we want to take the next step in our vision, to give even more people the opportunity to create more and better music,” says Ernst Nathorst-Böös, CEO and founder of Propellerhead. “With Verdane’s help, we will be able to reinforce our focus on developing new products for the next generation of music makers.”