Singapore’s BandLab Technologies acquires iconic music magazines NME and Uncut

BandLab Technologies, a Singapore-based online platform for musicians, just announced that it has agreed to acquire music magazines NME and Uncut from UK publisher TI Media. Financial details of the deal were not disclosed.

Photo credit: BandLab

The acquisition is expected to complete by the end of this month, and will see the two titles’ “social, digital, print, and experiential assets” move to BandLab Technologies’ media division, which is based in the UK. The startup said in a statement that “it’s anticipated that all NME and Uncut staff will transfer with the sale and continue to be based in […] London.”

BandLab Technologies started out providing its eponymous BandLab music production software aimed at amateur musicians. It has since moved into adjacent areas such as social networking – by building an online community to facilitate collaboration between musicians – as well as media, with online publications Guitar.com, Lab.fm, and MusicTech.

Another cornerstone of the startup’s growth strategy has been the acquisition of established, storied brands in the music industry. These include audio workstation software developer Cakewalk, and Swee Lee, a Singaporean chain of musical instrument stores with outlets across Southeast Asia. BandLab Technologies has also added US guitarmakers Harmony and Heritage, Mono instrument cases, and Teisco effects pedals to its portfolio.

In September 2016, BandLab Technologies acquired 49% of long-running US music magazine Rolling Stone for a reported US$40 million. In January this year it announced it would be expanding the iconic title’s Asia presence, but sold its stake to majority shareholder Penske Media Corporation later that month.