Price tag? Unknown, though quite possibly peanuts. The acquisition follows a fairly massive layoff round at Topspin, rumored to involve more than half of Topspin’s employees. Investors have also been rumored to be banging for an exit – any exit – for years.
The acquisition deal was just announced by Beats Music CEO Ian Rogers, formally Topspin CEO Ian Rogers. This was posted by Rogers in a blog post this morning on beatsmusic.com.
Today Beats Music is excited to announce a deal to acquire Topspin to help us achieve this unique vision.
The acquisition brings a team of talented people who have spent years working on building and fine-tuning the artist-to-fan connection into the Beats Music experience. Topspin + Beats Music combines music discovery and direct relationships between artists and fans in a revolutionary way.
Topspin artists, please see Topspin’s blog post and FAQ for specific questions. Topspin partners, please know we’ll be honoring the agreements made by Topspin and assigned to Beats Music. Since ecommerce isn’t our core business, we’ll be working with the Topspin team to find the best possible partner to handle Topspin’s ecommerce and fulfillment in the coming weeks.
A desire to be of value to artists in all facets of their career is in Beats Music’s DNA. We’re committed to establishing Beats Music as a conduit for the artist-fan relationship, a platform where artists have a voice, and a provider of useful data and analytics on how fans interact with artists and their music. This acquisition puts our money where our mouth is.”
Image by USAG-Humphreys, licensed under Creative Commons Attribution 2.0 Generic (CC by 2.0). Written while listening to Rhye.