Roxio, which specialises in CD-burning software, has bought all
of Napster's assets and intellectual property rights, including its
technology patent portfolio. The deal, however, leaves the company
free of Napster's liabilities, including pending litigation.
Also, part of Napster's hardware, including servers, routers and
computers, remain part of the bankruptcy proceedings and will be
auctioned on 11th December.
Roxio said in a statement issued yesterday that it would be
announcing its plan for the development of Napster in the coming
months. It is expected, however, that the company will integrate
Napster with its media distribution services.
Yesterday's approval of the takeover followed lengthy bankruptcy
court proceedings. More than 12 bidders were involved. In
September, the bankruptcy court blocked the sale of Napster to
German media giant Bertelsmann, which had offered $9 million for
the assets. The decision followed concerns that the proposal had
not been made in good faith.
