Epidemic Sound AB is considering a sale or initial public offering that could value the Swedish music licensing business at more than 1 billion euros ($1.2 billion), according to people familiar with the matter.
The company is working with an adviser to explore strategic options, the people said, asking not to be identified discussing confidential information. Epidemic Sound’s backers include venture capital investors Atwater Capital and Creandum as well as private equity firm EQT AB.
Deliberations are ongoing, and no final decisions have been made, according to the people. Representatives for Creandum, Epidemic and EQT declined to comment. A spokesperson for Atwater couldn’t immediately be reached for comment.
Founded in 2009, Stockholm-based Epidemic offers a library of restriction-free music that can be used by everyone from professional film producers to social media influencers seeking soundtracks for online content. This year’s coronavirus lockdowns have kept people confined to their homes and spending more on sites like YouTube.
Source: Bloomberg
Can’t stop reading? Read more
KKR acquires Australia’s Zenith Energy in $1.1bn deal to target energy transition growth
KKR acquires Australia’s Zenith Energy in $1.1bn deal to target energy transition growth KKR has...
Harvard lab secures $39m private equity lifeline from İşbank arm to launch biotech venture
Harvard lab secures $39m private equity lifeline from İşbank arm to launch biotech venture İş...
Private credit boom lures ultra-wealthy as PE sentiment cools, says BlackRock
Private credit boom lures ultra-wealthy as PE sentiment cools, says BlackRock BlackRock reports...