TDK Invests In Sound Source Interactive
October 11, 2020
| Sound Source Interactive, Inc. has announced that it has
entered into a stock purchase agreement to issue common
stock representing a controlling interest to TDK USA Corp.
Under the terms of the agreement, TDK has invested $1,425,000
in exchange for a 45% interest in Sound Source. Additionally,
subject to completion of an increase in the company's authorized
shares and certain undisclosed conditions, TDK will invest
an additional $3,575,100 for a total $5,000,100 investment
and a 72% stake in the software company. TDK will reconstitute
the board of directors of Sound Source and will augment
the company's existing management team by bringing in management
from the interactive division of TDK Recording Media Europe,
S.A. The company will be renamed TDK mediactive, Inc.
(TDK Electronics Corporation, 12 Harbor Park Drive, Port
Washington, NY 11050; 516/625-0100; Fax 516/625-0100; http://www.tdk.com.
Sound Source Interactive, 26115 Mureau Road, Suite B, Calabasas,
CA 91302-3126; 818/878-0505; Fax 818/871-1972; http://www.soundsourceinteractive)