RealTime IT News

Roxio Sheds GoBack Assets

As part of a deliberate strategy to stick to its digital media roots, Roxio has sold off the assets of the GoBack system recovery utility to Symantec Corp. in a deal valued at $13 million.

The Santa Clara, Calif.-based Roxio, which is busy preparing for the legitimate comeback of the Napster music service, decided to shed the assets of GoBack and stick to the core business of marketing digital media software.

For Symantec, which already had a deal with Roxio to resell the GoBack utility, the deal adds an out-of-the box system recovery software to its suite of Internet security products. GoBack retails for $29.95 and is available as a boxed product or via online downloads.

With GoBack, Symantec acquires software that offers PC drive restoration, protection from computer crashes and password-protection features.

Symantec will pay approximately $13 million in cash for GoBack. Terms of the transaction call for $2.75 million of that amount to be held in escrow for one year.

Roxio, known mostly for its CD/DVD burning software, acquired the assets of the bankrupt Napster last November and will relaunch it as a fee-based music service later this year.

The sale of GoBack follows the recent launch of Roxio's Easy CD & DVD Creator 6 Platinum, the first PC-based integrated software with CD and DVD burning capabilities.

With GoBack, Symantec acquires software that offers PC drive restoration, protection from computer crashes and password-protection features.