Feeds

Memory Corp splits in twain and changes name

Spins off music business

  • alert
  • submit to reddit

High performance access to file storage

Memory Corporation is to sell its music business as part of a restructure. The EASDAQ-listed company said it was in "advanced negotiations" to merge its music interests with enuffMusic.com and create a new California-based firm called Dig Media. Memory will get $5 million for the sale to Dig Media of its intellectual property relating to its music hardware products, and expects to get a 25 per cent stake in the new company. It expects the venture, which will also have offices in London, Edinburgh and Stockholm, to float within twelve months. David Savage, Memory CEO, will be CEO of Dig Media, and he will be succeeded as Memory CEO by Mark Doughty, Memory CFO. Simon Hollingworth will take over as CFO, while Andrew Mackenzie, Memory VP of its Memory Services Group, becomes Memory COO. Memory will concentrate on developing and licensing technology products, including digital appliances. The transactions, which are not subject to shareholder approval, are expected to be completed by the end of next month. The company will also seek permission to change its name to Torridon plc at its AGM in June. ® Related stories Memory Corp buys out Datrontech memory business Memory Corp licenses IP rights to Taiwanese, US companies

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.