Corel has announced that it has completed the acquisition of the Roxio business from Rovi Corporation. Financial details of the agreement were not disclosed. “We want Roxio’s customers and partners to know that these products are an important addition to our portfolio and they will have a great home with Corel,” said Shawn Cadeau, Senior Vice President, Global Marketing at Corel. “We look forward to bringing together the best of what Corel and Roxio have to offer as we work to deliver even richer, more rewarding experiences to our customers.”
With this acquisition, Corel said, it will take advantage of its well-established global infrastructure to dramatically broaden distribution of Roxio products into new international markets. In addition, the company will draw upon the complementary video, photo, audio, and disc burning technologies found in both Roxio and Corel software to give users even more capabilities and further enhance Corel’s overall product portfolio. Corel also sees significant opportunities in combining the strengths of Corel’s and Roxio’s established retail and direct sales channels and large customer bases.
The company also announced the launch of its first Roxio product, Easy VHS to DVD 3 Plus, which allows users to preserve and share VHS, Hi8 and V8 in today’s formats – disc, digital, or on mobile devices. “Over the years, when we picked up our video cameras and recorded the exciting events in our lives, we wanted to have them forever,” said Sean Penn, Vice President of Product Management for Roxio Products at Corel. “Now, so many of these irreplaceable memories like weddings, graduations, children’s birthdays and other special family celebrations are locked away on old tapes that are degrading over time while the devices to play them are disappearing. With this simple-to-use product, anyone can convert their aging video tape to digital and save and share the movies that tell their family’s unique story.”