Roxio, creators of the popular Toast CD authoring software, today announced that it will acquire the assests of Napster, the former file-sharing company, for US$5.3 million in cash and stock. Roxio will receive all of Napster’s intellectual property including its technology patent portfolio, but will not be assuming any of Napster’s liabilities, including pending litigation. Roxio’s purchase of Napster’s assets is subject to approval of the bankruptcy court. “Roxio’s acquisition of Napster will expand our role in the digital media landscape and enhance our offerings to consumers. We look forward to continuing to work with our partners in the entertainment industry and will be announcing further plans in the coming months,” said Roxio’s President and CEO Chris Gorog.
