|
Sonic Solutions and Axeda Systems Announce Licensing Deal
for RAVISENT Technology
Sonic Expands Product Line and Development Team
Marin County, CA (May 29, 2002) - Sonic Solutions
(NASDAQ: SNIC)
and Axeda Systems Inc., announced today that they have entered
into an agreement under which Axeda will license RAVISENT's
software DVD player and other digital media technologies to
Sonic. Under the agreement, Sonic will pay Axeda a one-time
fee of $2 million for the license and related agreements,
and in return will obtain exclusive rights to deploy the RAVISENT
technologies in the personal computer market. Sonic will also
expand its engineering team through the addition of key engineering
talent from Axeda.
Sonic is the leading supplier of DVD creation software; Sonic
MyDVD and DVDit! are bundled by leading manufacturers of PCs,
DVD recorders, and video/graphics cards including Adaptec,
Compaq, Dell, Fujitsu, HP, NEC, Nova, Panasonic, Philips,
Pioneer, Sony, and others. The RAVISENT technologies, known
for their quality and performance, have formed the basis for
DVD player products for Microsoft's XBOX. For Sonic Solutions,
the agreement with Axeda adds compatible products, technologies,
and personnel to Sonic's DVD creation business.
"The addition of the RAVISENT technologies further strengthens
Sonic's leadership position in DVD creation," said Christopher
Kryzan, Senior Vice-President of Marketing and Engineering
at Sonic. "RAVISENT has one of the most efficient DVD players
available and has a long-standing reputation for delivering
exceptional video quality. The RAVISENT technologies will
be excellent companions to Sonic's consumer and professional
DVD authoring applications for both OEMs and end users.
"We are very pleased that Sonic, the acknowledged world leader
in DVD creation applications, has decided to add the RAVISENT
solutions to their product line-up," said Tom Fogarty, Executive
Vice President and CFO for Axeda. "The addition of RAVISENT
digital media technologies to Sonic's product portfolio will
not only allow them to expand their technology base and broaden
their product line, but allows Axeda to further concentrate
its efforts on continuing its leadership in the DRM market."
About Axeda
Axeda Systems Inc. is an enterprise software and services
company that helps businesses become more competitive by using
the Internet to tap the value of real-time information to
optimize their service, development, sales and manufacturing
operations. The company's flagship Axeda Device Relationship
Management System is a distributed software solution that
lets businesses monitor, manage and service intelligent devices
deployed at remote sites. Axeda serves Global 2000 companies
in multiple markets including Industrial and Building Automation,
Technology, Medical Instrumentation, Office and Semiconductor
Equipment industries through sales and service offices in
the US, Europe, Israel and Japan, and distribution partners
worldwide. More information about Axeda is available at www.axeda.com.
About Sonic Solutions (NASDAQ: SNIC)
Based in Marin County, California, Sonic (http://www.sonic.com)
is the world's leading developer of solutions for creating
DVDs. Sonic MyDVD (http://www.mydvd.com)
is the most popular DVD application for consumers, and it
is the DVD application of choice among top OEMs of PCs, recordable
drives, and video and graphics cards. Sonic DVDit!® (http://www.dvdit.com)
is the leading DVD authoring application for videographers
and video enthusiasts; more than one million copies of DVDit!
have been sold. Sonic DVD Creator®, Sonic Scenarist®,
Sonic ReelDVD®, and Sonic DVD Producer are the most
widely-used systems for professional DVD publishing and are
installed worldwide at major studios, post production facilities,
and in corporate marketing departments. Sonic's AuthorScript®
engine for DVD formatting and burning is licensed by key software
developers including Adobe, Microsoft, and Sony. Sonic is
a full voting member of the DVD Forum, the standards-setting
body for the DVD format.
Sonic Solutions, Sonic, the Sonic logo, DVD Producer, Edit-on-DVD,
MyDVD, and OpenDVD are trademarks of Sonic Solutions. AuthorScript,
DVD Creator, DVDit!, ReelDVD, and Scenarist are registered trademarks
of Sonic Solutions. All other company or product names are trademarks
of their respective owners and, in some cases, are used by Sonic
under license. Specifications, pricing and delivery schedules
are subject to change without notice. |
|