I/OMagic today announced that a new Firewire external 16x10x40 CD-RW drive that will expand its CD-RW product line-up is under development.

``Our goal is provide products that enhance and expand the PC users experience,'' said Tony Andrews, vice president of engineering and product development for I/OMagic. ``This new drive will feature a starting speed of 16x10x40 which will allow users to rip CDs with considerable speed.''

I/OMagic intends to include a software bundle in this package including the Nero Burning ROM. The company hopes to launch this new product in July 2001 with an MSRP of $229