XARA acquired by MAGIX

From Xara via news release: Xara announces that it has been acquired by German company, MAGIX AG who hold the leading market position for the distribution of photo, music and video software in Germany and various other European countries, as well as being one of the three leading market players in the USA.

The acquisition is good news for Xara and its customers. The new financial resources that MAGIX provide together with the greatly increased distribution network for Xara products and technology will accelerate the development and market capture of the Xara products.

Xara will trade as a subsidiary of MAGIX under the existing management. It will continue to develop the Xara products such as the highly successful Xara Xtreme, to be marketed under both Xara and MAGIX brands.