Native Instruments issues statement as it enters full insolvency
The music tech company said its products and services will remain available
Native Instruments’ CEO has issued a statement following news that the music tech company has entered full insolvency proceedings.
Sharing a statement via the company’s blog yesterday, CEO Nick Williams explained that Native Instruments will now transition “from ‘preliminary insolvency’ into formal ‘insolvency’ proceedings where applicable”.
“As part of the restructuring process, Native Instruments GmbH and a number of our German entities will shortly be moving through expected legal steps,” he said.
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It follows initial news shared by Create Digital Music (CDM) in January that the Berlin-based company had entered preliminary insolvency, meaning that its “various assets” would be “sold off in some form”.
In the latest update, Williams explained: “The support we are receiving from our partners, artists, and community has been extraordinary. This loyalty isn’t something we take for granted.”
He added that the company is still working to “secure a healthy, financially sustainable future”, and that “business continues” across Soundwide, the merger company forged in 2021 between Native Instruments, iZotope, Plugin Alliance and Brainworx.
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“Our products, platforms, services, downloads, and customer service remain fully available,” Williams assured. “We see a clear path to achieve our goal to provide continuity for creators, customers, and partners.”
“What gives me confidence in our future isn't just the progress we're making - it's also the extraordinary passion and dedication of the entire team here at Native Instruments.”
Read the full statement from Nick Williams here.
Gemma Ross is Mixmag’s Associate Digital Editor, follow her on X
