Realnetworks Acquires Leading Mp3 Software Developer Xing Technology

EDP Weekly's IT Monitor, April 19, 1999

Streaming media software maker RealNetworks is buying privately-held Xing Technology Corp., a leading developer and provider of MP3 software, for $75 million.

"Xing has been at the core of the exploding MP3 revolution since its inception," says Rob Glaser, founder and CEO of RealNetworks. "With the acquisition of Xing, RealNetworks can now better serve the huge market of new artists choosing to use MP3 to legally distribute their work. Moreover, by bringing Xing's world-class development team into RealNetworks, we've greatly enhanced our efforts to lead and accelerate the development of the digital distribution of music and other forms of digital audio and video."

Xing's core engineering team will remain in San Luis Obispo, Calif., which will become a RealNetworks development facility.

Xing's popular AudioCatalyst MP3 software product has received five star ratings from MP3.com and ZD Net. Xing says the encoder is several times faster than other MP3 encoders.