MakeMusic reaches deal to be acquired by investment firm

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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.

Click here, to follow MakeMusic's stock performance.

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