Reprinted from a Sonic Solutions press release:
Sonic Solutions (NASDAQ: SNIC) today announced the completion of its purchase of Roxio’s consumer software division. Under the terms of the transaction, previously announced, Sonic is acquiring substantially all the business and assets of the division, including all products, intellectual property, and trademarks, including the Roxio name. More than 200 Roxio employees, based at several U.S. and international locations, will join Sonic. Roxio, Inc., which will retain the Napster division, has officially changed its name to Napster, Inc.
“Since we first announced this transaction last August, members of both Sonic and the Roxio software division have been hard at work to complete the details of the deal and to join our operations,” said Bob Doris, president and chief executive officer of Sonic. “The new Sonic Solutions will be one of the largest digital media software companies in the world, and the clear leader in CD and DVD creation tools and applications. We’re looking forward with great enthusiasm to 2005 as we continue to provide great technology and tools to our many partners, and outstanding digital media experiences to our hundreds of millions of consumer customers.”
About Sonic Solutions
Sonic Solutions (NASDAQ: SNIC; http://www.sonic.com) is the leader in digital media software, providing a broad range of interoperable, platform independent software tools and applications for creative professionals, business and home users, and technology partners. Sonic’s products range from advanced DVD authoring systems and interactive content delivery technologies used to produce the majority of Hollywood DVD film releases, to the award-winning Roxio- and Sonic-branded CD and DVD creation, playback and backup solutions that have become the premiere choice for consumers, prosumers and business users worldwide.
Sonic products are globally available from major retailers, online at Sonic.com and Roxio.com, and are bundled with PCs, after-market drives and consumer electronic devices. Sonic’s digital media creation engine is the de facto standard and has been licensed by major software and hardware manufacturers, including Adobe, Microsoft, Scientific-Atlanta, Sony, and many others. Sonic Solutions is headquartered in Marin County, California.
