Hjelmstedt said the decision to step down "was not taken lightly, but it comes with a deep belief that it's the right thing to do."
Eight months after suing over the failed deal, SourceAudio says in a new lawsuit that Utopia's "gameplaying must come to an end.”
Alain Couttolenc succeeds Mattias Hjelmstedt, following a challenging year of layoffs and divestments for the Swiss music company.
The 25,000-square-foot facility's opening follows layoffs and office closures at the company, which hopes to capitalize on strong demand for physical formats.
In a memo to staff, co-founder Mattias Hjelmstedt writes the fintech firm is further "streamlining" its operations as part of its transition to a "more efficient setup."
Absolute's leadership team will fully reacquire the company from Utopia, which has made three major divestments so far this year.
In a memo to staff, co-founder Mattias Hjelmstedt writes the fintech firm is doing "what is necessary to secure the future of the company."
The fintech firm's CEO believes a faster and more transparent royalty process will "help all facets of the industry earn more money."
SourceAudio says it agreed to sell itself nearly a year ago, but Utopia has refused to finalize the deal.