Roxio Acquires MGI Software

by Robin Liss
Published on Dec 3, 2001 12:00 AM



Roxio, the manufacturer of EZ CD creator announced today that they are acquiring MGI Software, a manufacturer of popular video editing software. The combination of the two companies will create a large new company with many popular software products.

About 2.3 million shares of Roxio stock will be issued to stockholders of MGI at the close of the transaction, the deal is worth about $32.8 million.

MGI's flagship product, Video Wave is bundled with many capture cards and other products. Roxio has a reputable past with CD burning software. It will be interesting to see what new software comes out of this deal.