Just weeks after Seeker Music Group announced it had secured $267 million through an asset-backed security to fund catalog acquisitions, the company tells Billboard it has acquired the masters and publishing catalog of synth-pop group Nu Shooz, which scored a No. 3 hit on the Billboard Hot 100 in 1986 with its single “I Can’t Wait.”

Formed in Portland, Ore., by guitarist John Smith and vocalist/percussionist Valerie Day, Nu Shooz scored a breakthrough in the mid-’80s with the smash single, which was included on the group’s RIAA Gold-certified 1986 album Poolside, released by Atlantic Records. The duo’s follow-up single, “Point of No Return,” peaked at No. 28 on the Hot 100. Nu Shooz was also nominated for best new artist at the 1987 Grammys.

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With the deal, Nu Shooz joins a portfolio of music rights that includes music by Christopher Cross, Joan Jett, Run the Jewels, Charlotte Caffey of The Go-Gos and Jon Bellion.

“Nu Shooz defined an era with one of the most groundbreaking sounds of the ’80s,” said Evan Bogart, CEO of Seeker Music, in a statement. “‘I Can’t Wait’ still feels fresh and alive today, and we are beyond excited to breathe new life into these legendary synth-pop hits. Honoring the DNA of seminal global hits and extending their legacy with future generations is what Seeker was built for.”

Day added, “We’re excited to join forces with the team at Seeker. Their deep love of music drives everything they do, and with their creative vision, the possibilities are endless. We know the Nu Shooz legacy is in good hands, and we ‘can’t wait’ to see how they find new ways to bring our music into the future!”

Nu Shooz was represented in the deal by Peter Csathy of Deep Cuts Media and Peter Vaughn Shaver, Esq., for Sound Advice, LLC. Seeker Music was represented by Henry Root, for counsel, LLP, along with Bogart, Seeker Music general counsel Dan Stuart and Seeker chief creative officer Steven Melrose.

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