Studio City entertainment and media-software developer FilmTrack has acquired music-rights management firm Dashbox Inc and scored $10 million in financing.
FilmTrack develops cloud-based software that manages digital file delivery, royalty payments, contracts, and other administrative functions. Its clients include Miramax Films, in Santa Monica, DreamWorks Animation SKG Inc., in Glendale, and Legendary Pictures, in Burbank.
Dashbox software manages music libraries for clients that include the CW Network, in Burbank, and A&E Television Networks LLC, in New York.
Terms of the deal announced Tuesday were not disclosed.
FilmTrack also announced it received $10 million in a second round of financing from Insight Venture Partners, in New York, and FilmTrack Chief Executive Jason Kassin and President Stephen Kassin, who founded the company together.
Jason Kassin said the acquisition and new funding will allow the company to expand its footprint in the music industry.
“As the company continues to grow, FilmTrack remains dedicated to its core mission, which is to provide the most powerful business solutions for rights and content management across media and entertainment,” he said in a prepared statement.