Music hardware and software manufacturer Native Instruments entered preliminary insolvency proceedings, . It’s the company behind iconic software like Massive, Traktor and Kontakt and hardware like Maschine+. Native Instruments also owns the brands iZotope, Brainworx and Plugin Alliance.

We don’t have many details on what it is and what the future of the company looks like. We understand that an administrator has been appointed to manage the redevelopment and, possibly, the sale of the existing properties. Native Instruments employs hundreds of people and their fates remain uncertain.

A private equity firm called Francisco Partners owns a majority stake in the company. It also owns a majority stake in entities such as GoodRX and Verifone, among others. This is not the first time Native Instruments has been forced into major restructuring. The company experienced many layoffs and uncertainty before being bought by private equity.

Again, we have no idea how to shake it. It is possible that new investors will jump in and it will be back to business as usual. It is also possible to strip everything for parts and sell to the highest bidder.

We know that the subsidiary Plugin Alliance seems to be unaffected. It emits a Facebook statement said it was not involved in the proceedings and that operations would continue as usual. This means that new plugins will be released, along with updates for the current software.

Everything is still up in the air. This is troubling for those who are heavily invested in the company’s ecosystem of products. I am one of them. Any hope I have for a just went out the window.

If the company’s strong software lineup goes up for sale, Akai is likely the best bet. It has started to incorporate .