Less than 2 years after that move Gibson has closed the doors on a huge user base of pro audio users. Gibson moved the Cakewalk software to a subscription based model while giving existing users the option to purchase “Lifetime” upgrades. O n December 6th, 2013, Roland sold all their shares of Cakewalk to Gibson. Michael Hoover, previously Executive Vice President of Products, became President, effective 1 July 2012. Gibson’s apparent need to dig themselves out of their current financial problems have reached a point where they have left a large base of pro audio users stunned and adrift.Įffective 1 July 2012, Greg Hendershott resigned as CEO, after 25 years with the company. I am thrilled to extend the reach of Gibson Brands around the world and to welcome this great team to the Gibson family.”

“By acquiring Philips’ audio and home entertainment business, our goal is to continue to provide the most exceptional consumer audio products and experiences in the world. “This agreement is the most significant step yet in Gibson Brands’ journey to become the largest music and sound technology company in the world,” said Gibson Brands Chairman and CEO Henry Juszkiewicz. I am not sure if a venture into the crowded home audio market that is already dominated by much larger corporations is a good move on the part of Gibson.

The purpose is to give Gibson the ability to move into the home audio, music accessories and video products. Gibson is citing the purchase of WOOX Innovations from Phillps Electronics for $135 Million (Plus a branding fee) one year after the purchase of Cakewalk line of software.

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