Iomega Sells Stake in ByteTaxi to Microsoft

San Diego-based Iomega said yesterday that it has sold its ownership in ByteTaxi, a maker of storage sharing software, to Microsoft. Microsoft acquired ByteTaxi yesterday to integrate the software into its new Windows Live products. Iomega said that as a result of the move, it will no longer bundle ByteTaxi's FolderShare software with its hard drive solutions and other products. Iomega had started offering the software with its hard drive earlier this year. Iomega said that it is looking to replace FolderShare with another comparable software solution. ByteTaxi's FolderShare solution allows synchronization and remote access to files via a web browser.