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Roxio to acquire MGI Software and provide RealNetworks CD recording technology
By Jon Newton, p2pnet.net
(more articles from this author)
2001-12-06
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Music Industry News - as it happens
Source: MusicDish/Mi2N - December 4, 2001

It looks as if Roxio, maker of Easy CD software, among other products, is about to become the new owner of Canada's MGI, manufacturer of a high-end photo and video editing software. Roxio says it has signed a "definitive agreement" to acquire all of the outstanding shares of MGI Software Corp, headquartered in Toronto, Canada, in a stock-for-stock transaction, subject to regulatory approval in Canada and approval by MGI shareholders. Roxio, based in Milpitas, California, says the boards of directors of both companies voted unanimously in favor of the deal, which it expects the deal to close within 90 days.

Roxio also announced that it will provide the CD recording technology for RealNetworks' new RealOne all-in-one digital media player, which integrates functions of RealPlayer and RealJukebox, a media browser and content discovery window, and a significantly enhanced subscription service. The new Easy CD Creator Basic Plug-in from Roxio is included with the RealOne Player and gives users the ability to burn music and data CDs, at 2x speeds, and now supports the MP3 and RealAudio 8 file formats. Roxio provides CD recording technology for RealNetworks' RealJukebox 2.0.

Once the MGI transaction is completed, Roxio's product portfolio will feature CD recording products including: Easy CD Creator for Windows and Toast for Macintosh; PhotoSuite for editing, organizing and sharing photos; VideoWave, which allows business and home users to create videos for the Web, CD, DVD, VCD and VHS; and, GoBack system recovery software.

Related News from Mi2N:
» Roxio To Offer CD Burning For RealNetworks' RealOne Consumers
» Roxio To Acquire MGI Software


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