Tuesday, September 27, 2016
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Toshiba Introduces the Value-oriented OCZ TL100 SATA SSD Series
Xiaomi Mi 5S Plus Guns for Apple
Samsung Says Global Replacement Program for Galaxy Note7 Has Made Progress
NXP Says New ARM Cortex-A7 Processor Is The Industry's Lowest Power
YouTube Go App Lets You Watch Videos Offline
Disney Working On Potential Twitter Bid: report
World's Largest Music Strem Ripping Site Faces Legal Action
Renault-Nissan and Microsoft Partner to Deliver Connected Car Technologies
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > Optical Storage > Sonic S...
Last 7 Days News : SU MO TU WE TH FR SA All News

Tuesday, August 24, 2004
Sonic Solutions to Acquire Roxio's Consumer Software Division for $80 Million


Sonic Solutions and Roxio today announced a definitive agreement for Sonic to acquire the consumer software division of Roxio for a total purchase price of $80 million.

Under the terms of the transaction, Roxio will receive $70 million in cash and shares of Sonic common stock valued at $10 million.

Sonic believes the acquisition will provide Sonic with a well-recognized set of consumer software brands; access to long-standing distribution channels; strong product marketing expertise; and key relationships with top-tier retail outlets. Roxio plans to focus its business on the digital music market and will change its corporate name to Napster and trade under the ticker ?NAPS? on NASDAQ, assuming the successful completion of this transaction.

"This combination will create an extremely strong provider of digital media creation software,? said Bob Doris , president and chief executive officer of Sonic. "We believe the acquisition of Roxio's consumer software division increases our reach with a proven brand; a tremendous sales and support platform; and a strong retail channel with national retailers such as Best Buy, CompUSA and Fry's Electronics. We'll be able to augment our Sonic team with the highly professional and experienced members of the Roxio software organization resulting in a truly world class organization in terms of technology development, major OEM delivery, and retail distribution. With the growth that we will unlock in the Roxio product line, and the many ways in which the two organizations complement each other, we will be able to drive shareholder value through strong revenue growth and profitability."

?With the successful completion of the transaction, Napster will emerge as a well-positioned pure-play in the fast-growing digital music sector with a substantially enhanced balance sheet that will support our growth plans,? said Chris Gorog, Roxio's chairman and chief executive officer.

Under the terms of the deal, Sonic will purchase essentially the entire Roxio software operation including Roxio's CD and DVD recording, authoring, photo and video editing application products including Easy Media Creator, PhotoSuite, VideoWave, Easy DVD Copy and Toast. Sonic expects to retain most of the current employees of the Roxio organization. Sonic intends to continue the Roxio brands, and current distribution and OEM relationships.

Completion of the acquisition, which is expected to close in the fourth quarter of calendar year 2004, is subject to the approval of Roxio stockholders, expiration or termination of the applicable Hart-Scott-Rodino waiting periods, and other regulatory and customary conditions.



Previous
Next
Fujifilm Introduces DVD+R Double Layer Media        All News        SanDisk CompactFlash Memory Card Survives Blast That Destroys Camera and Records Moment of Impact
Fujifilm Introduces DVD+R Double Layer Media     Optical Storage News      SunnComm's MediaMax Surpasses the Five Million CD Mark

Source Link Get RSS feed Easy Print E-Mail this Message

Related News
Panasonic Releases New LUMIX Cameras Including The 6K LUMIX GH5
NHK Join Forces With Panasonic And Sony To Win The 8K TV Race
Nissan Said to Exit Battery Business
Roxio Toast 15 Digital Media Toolkit Adds New Video Editing Tools and Privacy Protection
Panasonic To Pay 129 Million Euros Fine Over Cathode Ray Tube Price Fixing Case
Panasonic Unveils 8K Ultra-bright Images Created by Four 4K Projectors
New Roxio Secure Burn Enterprise Protects Information on Portable Media
Panasonic LUMIX GX85 Packs High Image Quality In a Compact Body
Panasonic Develops Secong Generation Freeze-ray Optical Disc-Based Data Archive System
Roxio Secure Burn Enables Secure Data Recordings On Portable Media
Panasonic Announces Two New Rugged Smartphones
Panasonic At CES 2016

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2016 - All rights reserved -
Privacy policy - Contact Us .