LauchEquity Acquisition Partners LLC is buying MakeMusic Inc. (Nasdaq: MMUS) for $23.8 million.

LaunchEquity, an investment company, will pay $4.85 per share in cash. The company owns 27.8 percent of Make Music’s outstanding stock. Before the deal was announced the company was trading at $3.70.

The price tag is nearly $10 million more than the original offer of $13.5 million, which was made in July 2012. In a July 15, 2012 letter to shareholders, MakeMusic stakeholder Andrew Stephens of Artisan Partners, noted how the company needed at least $10 million to recruit a new chief executive, after previous president and CEO Karen van Lith stepped down a month earlier.

MakeMusic, headquartered in Eden Prairie, Minn., develops music notation software and interactive software aimed to help students practice.

Lazard Middle Market LLC served as MakeMusic’s financial adviser and Fredrikson & Byron PA served as legal counsel. Olshan Frome Wolosky LLP provided legal advice to LaunchEquity.

The deal follows SFX Entertainment Inc.'s agreement to buy Beatport, an electronic music website, for $50 million.

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