RyteBox, a cloud-based end-to-end music rights and royalties administration platform, has announced it has acquired SR1 from Exactuals. SR1 is a digitally-native royalty calculation suite. RyteBox says the acquisition will greatly expand the capabilities and customer reach of both RyteBox and SR1.
SR1 streamlines all aspects of royalty management for its clients, including mechanical licenses and reporting, expense processing, royalty statement generation, deal management, sales & income processing, master licensing and invoicing, and neighboring rights. These capabilities will both complement and expand on RyteBox’s current offerings, which include contract and catalog management, revenue and royalty calculations, statements, and analytics, relationship management, and more.
Joe Decanio, President & CEO of SR1 and his team will join RyteBox and continue to support the SR1 customers. “I’m so glad to bring the SR1 team and our customers to RyteBox,” Decanio adds. “Exactuals was an excellent partner for us over the past four years, but now it’s time to expand what we can offer with RyteBox—backed by its parent company Axispoint—one of the top software developers in the music and media space. We now have the ability to offer true end-to-end-solutions for the global music industry.”
“Joe and the SR1 team have been doing incredible work helping artists get paid for nearly 20 years, and we could not be more excited to welcome them to the RyteBox fold,” adds Scott T. Powell, President of RyteBox.
“The transition for the dozens of SR1 customers has been smooth. I’m looking forward to expanding what more we can offer and providing the SR1 customers the ability to scale and efficiently handle growing data volumes on our new platform.”
“SR1 is a strategic acquisition for RyteBox, and we’re excited to bring them into our larger Axispoint family,” adds Dan DiSano, President & CEO of Axispoint.
“There is clear synergy between these two companies, and this will accelerate the growth of our overall rights and royalties customer base, geographic footprint, and products we can offer, creating a more robust and powerful experience for all.”