The board also announced a special stock dividend for Adaptec stockholders to mark the decision. This dividend will distribute the remaining shares of Roxio owned by Adaptec, and will be payable on May 11 to Adaptec shareholders "of record".
Common stock in Roxio will begin trading on the Nasdaq tech stock-market on May 14. The decision still needs to be upheld by the US Securities and Exchange Commission.
Roxio manufactures CD-burning solutions for both Macintosh and Windows platforms. Its products include the Toast 5.0 authoring-environment, as well as Easy CD Creator.
Adaptec believes that Roxio will be able to focus on software development more efficiently as a result of the spin-off. Roxio will also be looking to launch new products.