Acquisition Upgrade
Under terms of the agreement, Upgrade will acquire an ownership interest of 57 percent of Rockster from the Company. The transaction is expected to be completed during the first quarter of 2001.
"We were interested in Rockster because its technologies, open up tremendous opportunities in the way information is exchanged over the internet," said Daniel Bland, founder and CEO of Upgrade. "In particular, it could potentially solve the infringement issue associated with the transfer of music files over the internet."
Rockster utilizes proprietary technology, which allows for the development of music and entertainment content that can be distributed through the internet in a secure and anonymous manner.
In addition, the company has an equity position and strategic partnership with Rockster Records, an artist-friendly record label that intends to distributes music and allow musicians to retain ownership of their recording masters.
In the future the Rockster technologies will enable individuals surfing the internet the ability to create his or her own marketing and the ability to buy and sell whatever he or she wants while maintaining anonymity.
October 14th, 2008 - Posted in hznj.com | edit |
