Davis Polk advised Corel Corporation on its acquisition of the Roxio business from Rovi Corporation. The financial terms of the acquisition were not disclosed.
A Vector Capital portfolio company, Corel is one of the world’s top software companies with more than 100 million active users in over 75 countries that helps people express their ideas and share their stories in more exciting, creative and persuasive ways. The Roxio business, through its flagship applications Creator and Toast, allows users to easily create, manage, protect, share and enjoy their digital media on various platforms.
The Davis Polk corporate team included partner Martin A. Wellington and associates Beth Hooton Ruiz, Steve Valenzuela and Jonathan Jew-Lim. Partner Rachel D. Kleinberg and associate Una Au provided tax advice. Associates Emma Maconick and Daniel Ray provided intellectual property advice. Counsel Cynthia Akard provided employee benefits advice. Haniya H. Mir was the legal assistant on the transaction. Members of the Davis Polk deal team are based in the Menlo Park and New York offices.
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