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RECORDING COMPACT DISCS CD-Burning Trend Fuels Spinoff Adaptec unit Roxio, which makes CD-recording software, has IPO this week.(INTERNET & TECHNOLOGY)
Byline: Patrick Seitz
A little-known company popularized creating, or "burning," custom music compact discs with personal computers. Now it hopes to generate some heat with a stock offering.
Data storage firm Adaptec Inc. is spinning off its Roxio Inc. unit to its shareholders on May 11. It will trade on the Nasdaq stock market starting May 14 under the ticker ROXI.
Roxio is the leading provider of digital media software. People use it to record audio, video, photos and other data, often downloaded from the Web, ontoCDs. Roxio's CD-burning software, Easy CD Creator for Windows and Toast for Macintosh computers, is the world's best-selling software of its kind.
The Milpitas, Calif., company says its sales rose to nearly $120 million forfiscal 2001, which ended March 31, from $13.3 million in fiscal 1996.
"That represents a …
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