Propellerhead ReCycle!

ReCycle! is an audio processing tool for drum loops and grooves. It uses a technique called slicing to "atomize" the loops. Once a loop has been sliced, it is transmitted to your sampler and mapped to the keyboard- It can also be sent to Steinberg Cubase VST as an audio part, and it's from there that the final audio is played back. ReCycle was originally developed in conjunction with Steinberg, although version 2 was solely a Propellerhead release.

Features:

ReCycle! allows you to...

Make the tempo of any drum groove slave automatically to the tempo of the sequencer 
Layer grooves that were originally recorded in different tempo
Quantize MIDI to audio, audio to MIDI and audio to audio
Groove quantize loops as fast and simple as with any MIDI recording
Send different sounds in the groove to different sampler outputs
Edit a drum groove as if it was programmed out of individual sounds
Remove and/or replace sounds without altering the feel
Transmit and receivce samples from most popular samplers
Save ReCycled loops as SoundFonts or Mixman files