Fuga eyes acquisitions after €6 million injection

Fuga eyes acquisitions after €6 million injection

Technology and services company Fuga has secured a €6 million (£5.35m) investment.

As Fuga makes plans for further US expansion, the funds from current shareholders will help drive the company’s international growth, including potential acquisitions.

The company will also use the financing to develop its analytics and big data capabilities, providing more granular benchmarking and reporting to its label clients. The cash injection will also help plans for services in neighbouring and publishing rights, alongside expanding Fuga's territorial marketing and promotional services and expertise.

The announcement follows a string of new clients for the Amsterdam-based operation, which recently signed up management services company Mtheory and DJ Premier & Ian Schwartzman’s label imprint TTT. Fuga’s team has more than doubled in recent years.

Pieter van Rijn, CEO of Fuga, said: “I am very proud of Fuga’s trajectory, and happy that it has been recognised by our shareholders. I am confident that this significant injection of funding will mean we are able to far exceed our already ambitious plans and strengthen our position as an industry leader.”

The funds will be allocated over the coming two years.

author twitter FOLLOW Andre Paine

For more stories like this, and to keep up to date with all our market leading news, features and analysis, sign up to receive our daily Morning Briefing newsletter

subscribe link free-trial link

follow us...