The deal brings together two trailblazing indie labels. Dale Play founder Fede Lauria will remain as CEO.
The announcement comes ahead of the Puerto Rican singer's new single "Hello, What's Up?"
"The key is ensuring that what we do resonates with him, with his personality as an artist and with his vision. Once we have that, everything is easier," says Rimas Entertainment's Monica Jiménez.
Under the new signing, Rimas plans to "revive his classic reggaeton sound" and "propel his music into the future," according to a statement.
The project offers advanced resources to Christian artists to boost their careers.
The new deal will provide next-generation transparency to clients.
How the little-known founder of Rimas went from a Venezuelan military academy to the top of the U.S. music business – and could exit with as much as $200 million.
The deal, which could give equity to the artist, involves the 60% stake controlled by the company’s Venezuelan founder, Rafael Ricardo Jiménez Dan.
Nigerian artist and label founder Mr Eazi claims Bad Bunny's song "Enséñame a Bailar" infringes on Joeboy's copyright.
The rapper is set to drop a new album in May.
