Feeds

Memory Corp splits in twain and changes name

Spins off music business

  • alert
  • submit to reddit

Build a business case: developing custom apps

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

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
prev story

Whitepapers

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.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
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.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.