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Adaptec Unit Roxio Postpones IPO

TSC Staff

Adaptec(ADPT Quote) said the proposed initial public offering for its software business, Roxio, has been postponed until at least the first quarter of calendar year 2001 because of unfavorable market conditions.

Roxio, which provides digital content management software for personalizing and storing music, photos, video and data onto recordable CDs, filed a registration statement with the Securities and Exchange Commission in late September.