Software company Corel has completed the acquisition of the Roxio business from Rovi Corp. Financial details of the agreement were not disclosed.

The deal moves Roxio’s products into Corel’s portfolio. Roxio is best known for software to create, edit, produce and play video and audio, including the Mac-user favorite Roxio Toast along with Roxio Creator, Roxio Game Capture, Roxio CinePlayer DVD Decoder and other titles.

Corel also announced the first new product to emerge from the acquisition, Roxio VHS to DVD 3, which enables users to transfer VHS, Hi8 and V8 video tapes to digital video formats, which then can be shared online or saved to DVD.

Corel is known for CorelDRAW Graphics Suite, Corel PaintShop Pro, Corel WinDVD, Corel WordPerfect Office, WinZip and more software that collectively have over 100 million active users in over 75 countries

“We want Roxio’s customers and partners to know that these products are an important addition to our portfolio and they will have a great home with Corel,” said Shawn Cadeau, senior vice president, Global Marketing at Corel. “We look forward to bringing together the best of what Corel and Roxio have to offer as we work to deliver even richer, more rewarding experiences to our customers.”

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