MakeMusic Inc., an Eden Prairie-based maker of music technology and software, is being sold to LaunchEquity Acquisition Partners in an all-cash deal worth nearly $24 million, the Business Journal reports.
The Pioneer Press notes the Arizona-based venture capital firm, which owns nearly a third of MakeMusic's shares, offered to buy the company last summer for $13.5 million.
Former CEO Karen van Lith stepped down last June.
MakeMusic also reported on Wednesday a fourth-quarter net loss of $1.3 million compared to a profit of $694,000 a year earlier, according to a news release.
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