Sonic Solutions Completes Purchase of Consumer Software Division of Roxio; Combination Creates Digital Media Software Powerhouse.NOVATO, Calif. -- Sonic Solutions Sonic Solutions NASDAQ: SNIC is a digital media company based in Novato, California, USA. It was created in 1986 by former Lucasfilm employees who developed the AudioDroid digital audio editing system as part of the Droidworks project. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :SNIC SNIC Singapore National Institute of Chemistry SNIC Snow and Ice Clearance SNIC Sub-Network Independent Convergence (functions) SNIC Standard Network Interface Card ) 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 Bob Doris (born May 11 1973) is a Scottish politician. A member of the Scottish National Party (SNP), he was elected to the Scottish Parliament to represent Glasgow region at the 2007 election. , 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 DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. 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 DVD authoring describes the process of creating a DVD video that can be played on a DVD player. DVD authoring software must conform to the specifications set by the DVD Forum group in 1995. 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 Hardware or software that is widely used, but not endorsed by a standards organization. Contrast with de jure standard. de facto standard - A widespread consensus on a particular product or protocol which has not been ratified by any official standards body, such as ISO, 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 Marin County (IPA: /məˈrɪn/) is a county located in the North San Francisco Bay Area of the U.S. state of California, across the Golden Gate Bridge from San Francisco. As of 2000, the population was 247,289. . Sonic, the Sonic logo, Sonic Solutions, AuthorScript, DVDit, InterActual, MyDVD, RecordNow, and Roxio are trademarks or registered trademarks of Sonic Solutions or its subsidiaries in the United States and/or other countries. Napster is a registered trademark of Napster, Inc. or its subsidiaries in the United States and/or other countries. All other company or product names are trademarks of their respective owners and, in some cases, are used by Napster, Inc. or Sonic under license. The above paragraphs of this press release may contain forward looking statements that are based upon current expectations. Actual results could differ materially from those projected in the forward looking statements as a result of various risks and uncertainties including, among others, the reaction of customers of Sonic and Roxio to the acquisition, Sonic's ability to integrate Roxio's consumer software business and technology with its own and other factors, including those discussed in the Company's annual and quarterly reports on file with the Securities and Exchange Commission. This press release should be read in conjunction with the Company's most recent annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , Form 10-Q Form 10-Q See 10-Q. and Registration Statement on file with the Securities and Exchange Commission, which contain a more detailed discussion of the Company's business including risks and uncertainties that may affect future results. The Company does not undertake to update any forward looking statements. |
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