This is a bummer. I haven’t done much with modular lately, but Mutable Instruments Rings and Clouds were two of my favorite modules. Apparently Mutable Instruments quietly exited the stage last year:

The curtain has fallen. Since December 2022, Mutable Instruments has ceased its activities. It had been a while since Emilie had announced that she was stopping. No one is taken in by surprise.

Mutable’s open source design was always a cool idea, but I wonder if a company can survive when it gives potential competitors such license to undercut it. Indeed, speaking of undercutting the competition, it appears that Behringer might be on the case:

The first module, ‘Chaos‘, is based on the Mutable Instruments Marbles.

[…]

The second new Behringer Eurorack module is Surges, based on the Mutable Instruments Ripples.

While we’ll probably see original Mutable modules sold at outrageous markups on the used market, at least people will still create new modules based on Mutable’s designs. That said, I always wanted to own something called a Mutable Sheep. Alas, it was probably never meant to be.