Software maker Roxio bought the remaining intellectual property assets of the now defunct song-swap company Napster for just over US$5 million in cash.
The deal went through Wednesday following a Delaware bankruptcy court's approval.
Santa Clara-based Roxio, which specializes in CD-burning software, snapped up Napster's patents and brand name for the cash, plus US$300,000 in warrants for shares of Roxio common stock.
Roxio officials haven't announced what they'll do with the file-sharing company's leftovers, though earlier this month chief executive Chris Gorog said Napster's intellectual property "will expand our role in the digital media landscape and enhance our offerings to consumers."
Roxio is not assuming any of Napster's liabilities. Napster's remaining hardware -- servers, computers -- remains part of the company's bankruptcy proceeding and will be auctioned off Dec. 11.
RSS