Adaptec, the maker of Toast CD-burning software, is to spin off its software business into a separate company.
The company announced it plans to spin off the software business so that both companies can "execute on independent strategies and have greater focus on their respective opportunities".
Adaptec anticipates that an initial public offering (IPO) of around 15 per cent of the software company's common stock should be completed by the end of this year. Remaining shares will be distributed to Adaptec shareholders.
Adaptec's other Mac products include a range of SCSI cards - its most recent addition being the SlimSCSI 1480 for the PowerBook. Its software line-up includes Toast, DirectCD, and Jam.