Kobalt has selected investment firm Francisco Partners to take a controlling interest in the company as it enters its next phase.

Willard Ahdritz will remain chairman, and the company will
continue to be led by its management team of CEO Laurent Hubert, president/COO Jeannette Perez, CFO Catrin Drabble and CTO Nuno Guerreiro.

Goldman Sachs served as financial advisor to Kobalt, while Fred Davis and Raine Group served as financial advisor to Francisco Partners.

MUSIC and Dundee Partners are also investing in Kobalt. MUSIC CEO Matt Pincus will join the board of Kobalt after the deal has closed.

“For over 20 years, Kobalt has been a music leader with technology as a core part of our focus, and I can’t think of a better investor than Francisco Partners to back our vision and invest deeply in our ambitious technology development and creator services,” said Ahdritz. “Having known the team at Francisco Partners for two years, I am excited to invite them into the Kobalt family.”

“Our investment should help bring more resources, experience and alignment to continue to build Kobalt as a premier destination for creators, further grow AMRA as the only global digital licensing platform and support and invest in technology innovation across the entire Kobalt ecosystem to address the needs of creators and publishers,” said Matt Spetzler, partner at Francisco Partners.