Reprinted from a Roxio press release:
SANTA CLARA, Calif., Aug. 29 /PRNewswire-FirstCall/ — Roxio, Inc., (NASDAQ: ROXI) The Digital Media Company, provider of the best selling digital media software in the world, announced today it is partnering with YesVideo, the leader in videotape-to-DVD conversion, to jointly develop various marketing and distribution channels, and to share technology licensing. Additionally, Roxio announced it has made a $3 million strategic investment in YesVideo. The Eastman Kodak Company is also an investor in YesVideo.
“Analysts say Americans have 400 million hours of home movies on videotape stored in their closets. By partnering with YesVideo, we are providing our customers with a hassle-free way to convert their tapes to pristine DVDs,” said Roxio President and CEO Chris Gorog. “Technology, automation, scalability, and distribution have made YesVideo the clear leader in this emerging market. Through key relationships with Eastman Kodak and Fuji Color Services, YesVideo has already begun rolling out its products worldwide, and is estimated to launch in over 38,000 retail locations in 2002.”
Under terms of the agreement, Roxio will have the exclusive right to bundle, market, and distribute YesVideo products online and to certain retailers, including Roxio’s existing retail channel partners. In turn, certain Roxio products will be bundled with YesVideo products, expanding Roxio’s already strong distribution channels to the traditional photo-finishing channel.
YesVideo President and Chief Executive Officer Sai-Wai Fu said, “Our partnership with Roxio will enable us to grow our distribution channels significantly, while connecting us with the leading brand name in digital media management. Additionally, the strategic investment by Roxio will help YesVideo meet market demand, expand into Europe, and solidify a strategic partnership with a digital media frontrunner.”