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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)


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