Official Statement from AlphaTheta and Serato Regarding NZCC’s Ruling on Acquisition
We are disappointed by the ruling of the New Zealand Commerce Commission against the acquisition. As AlphaTheta and Serato, we believe that the proposed agreement would have accelerated our combined ability to deliver incredible products to DJs and Producers around the world by capitalizing on our complementary expertise while creating significant benefits for the local music technology industry in New Zealand.
Despite the regulatory findings, our organizations have a long history of working together and we steadfastly believe in the merits and benefits of our ongoing partnership as we seek to harness technology to advance the ways artists create and perform music.
“Regardless of the disappointing outcome of the judgment, we remain excited about the future. Through this process we have built on our 15-year relationship with Serato, leading to the commencement of a number of exciting new projects for DJs and Producers.” – Yoshinori Kataoka, President, and CEO, AlphaTheta.
“While it’s not the decision we wanted, the Serato business has never been in a better place, and neither has our relationship with AlphaTheta. Through the process, we have not taken our eye away from what we do best, and our pipeline of future innovation is incredibly healthy, including projects with AlphaTheta and other industry partners.” – Young Ly, CEO, Serato.
About Serato
Since its inception in 1999, Serato has been at the cutting edge of audio software innovation, enabling DJs, producers and artists to create and perform in new ways. The brand’s first ever product, Pitch ’n Time, has become the industry standard for time stretching audio and forms the backbone of the company’s core product, Serato DJ. One of the most widely used and powerful DJ software tools available today, Serato DJ is constantly updated with new features, and is loved by many of the most iconic DJs of our time. Serato’s suite of products also boasts music production tools such as Serato Sample and Serato Studio which have become go-to tools for Sample-based producers and beat-makers alike. In 2022 and 2023, Serato introduced its real-time stem-splitting technology Serato Stems across its product range, to global and industry acclaim.
Website: serato.com
Press: press@serato.com
Socials: instagram.com/serato