Financial terms of the acquisition were not disclosed, but according to the Financial Times, which cited a person familiar with the matter, the deal is worth about USD $50 million. The acquisition marks Splice’s entry into the plugin sector, which it notes is valued at $640 million, and aligns with its existing subscription and rent-to-own businesses.
Source: Splice acquires Spitfire Audio for a reported $50m as it bets on AI music creation