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Roxio Sells GoBack Unit to Symantec for $13 Million

Authored by Mark Hefflinger on April 22, 2003 - 1:39am.
Santa Clara, Calif. -- Roxio, a provider of CD and DVD burning software that also plans to launch an online music service based on assets it purchased from the bankrupt Napster Inc., announced that it has sold its GoBack business unit to Internet security software firm Symantec for about $13 million. The GoBack program records all data stored on a user's PC and can allow users to "go back" to a particular earlier configuration in the event of a computer crash or other problem. "The opportunity to sell GoBack comes at a great time for Roxio as it provides an opportunity to add to our cash balances and divest an asset that is not core to our digital media strategy," said Roxio president and CEO Chris Gorog. "This transaction will enable us to bring an even greater focus to our digital media software business and the development of our new on-line music business with our Napster assets."
tags: Roxio | GoBack | Symantec |