Primary Wave has acquired Kobalt Music from Francisco Partners, linking an independent catalogue specialist known for marketing iconic music IP with Kobalt’s publishing and royalty-administration technology platform.
In coverage published September 16, 2026, The Deal Wire reported that the combined operation is positioned as a scaled independent alternative to major publishers by pairing Kobalt’s royalty tools and global digital collection capabilities (AMRA) with Primary Wave’s catalogue brand-building approach.
Kobalt will keep operating as a separate, stand-alone company under Laurent Hubert and its existing management team following the close. Paul Hastings LLP advised Primary Wave on the transaction, with a cross-practice team spanning music industry, funds, tax, antitrust, executive compensation, and corporate counsel.
The deal lands amid ongoing consolidation in music publishing, as catalogues continue to attract private capital looking for long-term streaming-era cash flows and as buyers seek both rights ownership and the infrastructure to track and collect royalties worldwide.
Image: FALLBACK — Unsplash stock (music notes / digital studio illustration) used by source page; thematic royalty-free fallback