Feeds

Memory Corp splits in twain and changes name

Spins off music business

  • alert
  • submit to reddit

Maximizing your infrastructure through virtualization

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

Top three mobile application threats

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.