This is truly wretched. Cakewalk devs are some of the smartest, nicest, most knowledgable people in the business. There's no doubt they'll do well wherever they go from here (Great C++ devs aren't exactly a dime a dozen these days).
I don't know what "acquisition strategy" Gibson is referring to, but it seems to be an oxymoron. Judging from the recent non-starter song-writing iToy release and the non-port Mac OS port of Sonar, I'm guessing Gibson's goal was to have a cross-platform DAW solution to synergize with their pro audio brands. But if this guess is correct, it represents an epic failure of due diligence on Gibson's part.
I wouldn't bet my life on Microsoft buying Cakewalk even at a firesale price. Microsoft's core business today is cloud services. Its only creative applications are basically exhibitions of these cloud services. There's a better chance of Paul Allen buying the company, as he's into music and was the founder of Submersible, which made drum loop library products. :D In all seriousness, this announcement most likely indicates that attempts to sell off the Cakewalk division have already failed. Gibson would not have otherwise devalued the product with an announcement such as this.
I join Craig in recommending Studio One. It's been a DAW where I've been spending most of my music production time, and it gets a lot of things right. There's a Black Friday 50% off sale on it going on now.
In the spirit of Thanksgiving, I am very grateful to Cakewalk for having been there. For all I learned about arranging, producing, and mixing music on its products and at its events. For all I learned about the process of building consumer software in my two long-ago years as a beta tester. For the excitement in trying out the next great new feature, the next new instrument, the next update.
Thank you!