All the latest UK technology news, reviews and analysis
|
|
|
28 Nov 2002
Software maker Roxio has bought the remaining intellectual property assets of the now defunct file-swap company Napster for just over $5m.
According to Associated Press, the deal went through immediately after it was approved by a Delaware bankruptcy court.
Roxio, which specialises in CD-burning software, snapped up Napster's patents and brand name for the cash, plus $300,000 in warrants for shares of Roxio common stock.
In a comment related to Napster's feline trademark, the deal was described as "buying a dead cat" by some observers.
Roxio officials explained that it will be months before they reveal their resurrection plans, although chief executive Chris Gorog said that Napster's intellectual property "will expand our role in the digital media landscape and enhance our offerings to consumers".
The company does not have to pay any of Napster's bills. Napster's hardware remains part of the company's bankruptcy proceedings and will be auctioned off in two weeks.
Latest stories from Web
Related articles
Related jobs
Poll
Are you confident that the UK's IT infrastructure is secure from attack in the wake of the Flame malware revelations?
Orange and Intel talk us through the ins and outs of their San Diego smartphone
Connect with V3.co.uk
Social networking is almost ubiquitous. This white paper examines the benefits and risks and it looks at the different ways companies can reconcile them
The importance of understanding your infrastructure
My London client is looking for an experienced Programme...
My leading client is looking for a number of excellent...
My client, a leading international name in Manufacturing...
My client is looking for an Automated Engineer/Developer...
Keep up to date with the latest products, services and technologies from the world's leading IT companies. IThound.com brings you over 2,000 white papers, case studies and analyst reports.
Do you agree?