Searchlight Completes TouchTunes Acquisition Goldstuck Is CEO

NEW YORK CITY -- Searchlight Capital Partners said it has completed its acquisition of TouchTunes Interactive Networks Inc. TouchTunes announced on April 2 that it had signed a definitive agreement to be acquired by Searchlight. TouchTunes administers 71,000 jukeboxes in bars and restaurants in North America and Europe. Terms of the transaction were not disclosed.

TouchTunes chairman and chief executive Charles Goldstuck will continue to run the location-based entertainment giant in the same roles, and remains an investor in the company. In fact, he said he has increased his stake.

"This month marks my sixth anniversary at the helm of TouchTunes, and I could not be happier with our prospects going forward, especially with Searchlight as our new partner," Godstuck said in a June 1 letter to TouchTunes operators.

"As always, we will continue to strive to innovate and bring world-class products and services to our marketplace," he added. "We continue to be uniquely positioned to do so. I look forward to this next TouchTunes chapter and I am grateful for the opportunity to continue working with you."