Corel has announced that it has entered into a definitive agreement to acquire the Roxio product line from Rovi Corporation.

With this deal, Corel will expand its product portfolio to include Roxio's range of digital media and security solutions. The acquisition includes Roxio Creator and Roxio Toast. The deal is expected to close in February. Financial details of the agreement were not disclosed.

"We're excited about this deal for a number of reasons, most notably the fact that upon completion of the acquisition, we will be able to offer our customers a wider range of products, both in our digital media and WinZip product lines," said Shawn Cadeau, Senior Vice President, Global Marketing at Corel. "Roxio has a large install base, with over 350 million units sold worldwide, and our products are offered through similar channels spanning retail, direct, OEM and enterprise sales. On the digital media side, we will have a full blown multimedia suite and a new offering on the Mac platform. For WinZip, we will be able to further expand our suite of tools, with new data protection and security software."