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Business News (more headlines) 08-10-2014

MakeMusic Joins Peaksware

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MakeMusic, Inc. announced that they will join the umbrella company Peaksware, Inc. owned by LaunchEquity Partners, the same investment company who took MakeMusic private in 2013. MakeMusic joins TrainingPeaks, another brand already under the leadership of the Peaksware team. Each brand will remain focused solely on their respective markets of music technology and endurance training, continuing their long histories as industry leading brands.

"Our vision is broad, but it's based on a core strategy that we've honed over the years at TrainingPeaks, and it will be the cornerstone on which we build a great organization."

Through a unique approach to deliberate practice, each brand within Peaksware develops software solutions and provides services to help guide people along their own journey of improvement and skill development. Whether completing a triathlon, learning a musical instrument or composing a symphony, the same strategy applies: set a specific goal, get expert instruction, perform focused practice and receive immediate feedback. This shared approach is the common thread connecting the brands.

Peaksware's CEO Gear Fisher and his executive team will assume the leadership of MakeMusic immediately. Current MakeMusic CEO, Karen VanDerBosch and the rest of her executive team will assist with the transition. By joining Peaksware, MakeMusic will share best practices and gain operational efficiencies with the other brands within a larger umbrella corporation. The increased scale of the combined organization will enable additional investment and innovation.

"Our vision is to provide the platforms by which performers and instructors can work to perfect their crafts. Both TrainingPeaks and MakeMusic have already helped countless people achieve mastery. Working together under the Peaksware umbrella, they will be able to reach even more," said Andy Stephens, Chairman of both MakeMusic and Peaksware.

"Whether it's coaches and athletes, teachers and students, or composers and musicians, we're pioneering software platforms that help people reach their potential across sport, music and beyond," said Mr. Fisher. "Our vision is broad, but it's based on a core strategy that we've honed over the years at TrainingPeaks, and it will be the cornerstone on which we build a great organization."

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