Skip to content

Teosto to sell its shares in Mind Your Rights

03.04.2020

Teosto will sell its shares in the Finnish startup company Mind Your Rights Oy that it established to NK Digital Solutions GmbH, a German IT company. Teosto will continue as Mind Your Rights Oy’s customer.

Mind Your Rights was established by Teosto in 2017 to develop a global live music copyright licensing platform. This transfer of ownership completely outside Teosto will further increase the opportunities to expand the operations of the company into international markets.

Mind Your Rights was established in 2017 to develop the Concertify platform for faster and simpler tracing of live music copyright data. The service brings benefits to live music event organisers through easier reporting and music authors through faster receipt of payments. The development of the platform was launched in Teosto, but the operations were spun off into a new company in 2017.

In this transaction, Teosto will sell its shares in Mind Your Rights Oy (48.65%) to the company’s majority shareholder NK Digital Solutions GmbH, which will own 100% of the company after the transaction. NK Digital Solutions has already acquired the majority stake in Mind Your Rights in August of last year.

NK Digital Solutions is a consortium specialised in digital solutions for the platform economy. Mind Your Rights has collaborated with NK Digital Solutions on solutions development for a long time.

Teosto, which represents approximately 33,000 Finnish composers, lyricists, arrangers and music publishers, will continue as the company’s customer in different development projects. The value of the transaction is not published.

“We will strongly concentrate on our core business and streamline our basic processes according to our strategy. The decline in turnover caused by the coronavirus further highlights the significance of this focus. We are pleased that the new owner will develop the Concertify platform intensively and we can continue as a customer of Mind Your Rights,” says Risto Salminen, CEO of Teosto.

More information:

Share on social media
Change cookie settings

A cookie is a small text file that is stored on your computer or other device and records information about your visit to the Website. Teosto uses cookies to improve the usability of its services.

Information collected by cookies is not usually connected with the personal data of an identified person, but some information collected by cookies may be indirectly connected with the personal data of an identified person.

Learn more by reading our Privacy Policy and Cookie Policy

Cookie categories
Strictly necessary cookies

These cookies are strictly necessary to ensure the availability of our website. They do things such as load some of our website’s functions in advance to make the website load faster. Strictly necessary cookies are also used to determine and remember your settings. You can disable strictly necessary cookies in your browser settings, but please note that all of the website’s functions and parts may not work properly after that.
More information about cookies

Analytics cookies

We use analytics cookies to improve the functioning of our website. Analytics cookies collect information about things such as how visitors use our website and how they navigate from one page to another. The information is used in anonymous form.
More information: Privacy Policy and Cookie Policy

Functionality cookies

Functionality cookies allow us to offer various functions, such as playlists and a live chat service, on our website. If you disable functionality cookies, some or all of these functions may not work properly. More information about cookies

Marketing cookies

Marketing cookies help us tailor marketing and offer the users of our website more personalised services in the future. We use marketing cookies to collect information about the user’s behaviour and preferences on our website.
More information about cookies