Anonymous (not verified) - March 14th, 2001
Sonic Solutions (NASDAQ: SNIC) announces that it has reached an agreement with Daikin Industries, Ltd., of Japan under which Sonic will combine Daikins DVD authoring business with Sonics professional DVD operations. Under the terms of the agreement, Daikin will maintain an equity interest in Sonic Solutions signifying the strategic importance of the union. Sonic will acquire the Daikin products, including all intellectual property rights, and carry on development, marketing and sales activities on a worldwide basis. Further, Daikin will continue to be the exclusive distributor and service provider of the Daikin-originated authoring products in Japan. "The addition of Daikins technology will further strengthen our leadership position," said Bob Doris, President of Sonic Solutions. "Daikin introduced Scenarist, the first authoring application for professional DVD creation, in 1996 and that system is still a gold standard in the industry. Sonic has sold the largest number of professional DVD production systems of any company in the world. This deal truly combines the best with the best."