Limassol-headquartered Muse Group, a global leader in music education and technology, has announced the start of a new phase in its development following the conclusion of a two-year investment partnership with Francisco Partners.

The investment firm, which first acquired a minority stake in the company in 2023, has now successfully exited its investment.

During the partnership, Muse Group expanded its international presence, strengthened its technological capabilities and completed the transformational acquisition of Hal Leonard.

The company also reported consistent performance across its portfolio of brands.

The transaction marking the conclusion of the partnership was supported by senior credit facilities arranged by J.P. Morgan and the company’s existing cash reserves.

Founder and chief executive Eugeny Naidenov remains the majority owner and retains control of the company.

He continues to work closely with executive chairman and chief operating officer Mo Chahdi, supported by a management team with expertise in technology, product development, growth, artificial intelligence, global operations, finance and organisational scaling.

“I founded Ultimate Guitar in 1998, driven by a passion to improve the lives of musicians every day,” Naidenov said.

“Francisco Partners helped us expand that vision to more markets, more products and more creators around the globe,” he added.

“Muse Group is now ready for its next phase,” Naidenov said.

“We have the products, the team, the community and the ambition to keep building technology that helps musicians do even more with their creativity,” he added.

Looking ahead, Muse Group plans to continue acquiring and partnering with businesses that align with its mission.

The company said it will seek products and businesses with loyal communities, solid product foundations, high-intent users and the potential to become more valuable within the wider Muse ecosystem.

The group also reaffirmed its commitment to product innovation and artificial intelligence-enabled creative workflows.

Its long-term ambition is to create a comprehensive technology platform for music learners and creators, enabling them to move seamlessly from learning to producing, recording, publishing, sharing, licensing and monetising their work.

“This is an important milestone for Muse Group and a strong reflection of what the team has built,” Chahdi said.

“We are grateful for Francisco Partners’ partnership and the support they provided throughout this journey,” he added.

“They helped execute and fully integrate the acquisition of Hal Leonard and acted as a valuable strategic partner in strengthening our global footprint, product offering and technology,” Chahdi said.

“Our next chapter is focused on execution, product innovation and making the Muse ecosystem more connected and valuable for creators,” he added.

Lee Rubenstein, managing director at Francisco Partners, praised the company’s progress during the two-year collaboration.

“It has been a privilege to work with Eugeny, Mo and the Muse Group team over the course of our partnership,” Rubenstein said.

“Since our initial investment, the company has delivered impressive growth, completed its transformational acquisition of Hal Leonard and built a leading global music technology platform,” he added.

“We are proud of the company’s accomplishments and are confident Muse Group is well positioned for its next chapter of growth,” Rubenstein said.

Over recent years, Muse Group has evolved from a collection of popular music products into a broader ecosystem serving musicians, learners, educators, creators, publishers and audio professionals worldwide.

Its portfolio includes a number of well-known brands, including Ultimate Guitar, MuseScore, Hal Leonard, Audacity, Audio.com and MuseHub.

Through digital platforms, music publishing, educational content, recording tools and software solutions, the company now reaches millions of users around the world.

Founded by Naidenov, Muse Group remains rooted in music, technological innovation and its global creator community, as it prepares for its next stage of expansion.