This acquisition allows SESAC to leverage Audiam’s technology and services for claims, revenue tracking and accountability, thus expanding its global services to songwriters, composers and music publishers. Audiam will remain under the direction of Jamie Purpora who has over twenty years of experience in managing music publishing and who has successfully led the Audiam team since 2015.
Jennifer Brown, CEO of SOCAN, said: “SOCAN is pleased to enter into this agreement with SESAC. Since our acquisition of Odiam in 2016, this company has exceeded our expectations, but now is the time for Odiam to continue its next phase with a new mother enterprise. We look forward to this new chapter for Odiam who will certainly benefit from this new collaboration with SESAC. “
SESAC President and CEO John Josephson said his organization “is acquiring Audiam with the goal of supporting the existing management team and acting as a partner, strategist and financier. We expect the transfer of ownership to be very smooth and this transaction will have no impact on Audiam’s business operations. For the future, we believe SESAC will be in An excellent position to further the growth of its global multi-jurisdictional and rights management activities in order to continue to provide a first-class service to its affiliates, licensees and business partners.”
Financial terms under the agreement were not disclosed. However, SOCAN maintains a minority stake in Audiam.