Court reporter adds online music

DIGITAL court recording software maker Future Technology Resources is taking a 13 per cent stake in online music retailer Chaos Multimedia.

The purchase is part of Perth-based FTR’s plan to invest in early stage Australian technology companies.

The interests associated with Sean Howard and Trevor Kennedy will also buy a 9.9 per cent stake each from interests associated with Malcolm Turnbull and Neville Wran.

FTR chairman Lucy Turnbull said the company’s directors had decided shareholders would benefit from a wider range of Australian technology investments.

Chaos offers more than 250,000 music titles from around the world including CDs, digital video discs and video music. Customers can download music from the site on a song-by-song basis.

Musicians can also make music available for sale to the public directly through the site.

FTR managing director Steve Townsend said the Australian technology market looked “very exciting”.

Despite its broadening investments, Mr Townsend said the company would still be concentrating on its digital court recording business.

Late last year it launched its latest version of digital court recording software FTR Gold.

FTR has doubled the size of its installed base of digital court recording systems worldwide in the past six months and is on track to have 3,000 systems sold and installed by the end of the 2000 fiscal year.