Splice has acquired UK-based Spitfire Audio for a reported $50 million. This acquisition marks Splice's entry into the $640 million plugin sector and aligns with its subscription and rent-to-own businesses. Splice, valued at nearly $500 million in 2021, aims to capitalize on the growing music creation market, projected to reach $14 billion by 2031. Both companies will continue to operate independently, with Spitfire Audio's CEO reporting to Splice's CEO, Kakul Srivastava.

Since launching its flagship Splice Sounds platform in 2015, Splice has become a cornerstone of modern music production and is home to the industry's highest-quality sample catalog, where one million sounds are downloaded every day. With a global community of over 10 million music producers and creators, Splice is already the largest ethical AI-powered platform used by music producers, with 40% of Splice users embracing the platform's AI empowerment tools. Founded in 2007, Spitfire Audio has cemented its place as a creative powerhouse for composers, producers, artists, and musicians. The beloved British company provides virtual instrument libraries, including recordings by Hans Zimmer, Olafur Arnalds, the BBC Radiophonic Workshop, BBC Symphony Orchestra, and Abbey Road Studios. "The teams at Spitfire Audio and Splice have deep respect for composers, musicians, and producers and are committed to celebrating and supporting their work," said Kakul Srivastava, CEO of Splice. "We're both sound-first, creator-led companies who believe great software and technology can supercharge the creative experience