Sonic Completes Acquisition of InterActual Technologies
March 01, 2004
Marin County, CA - Sonic Solutions (Nasdaq: SNIC), the leader in DVD/CD creation software, has completed its acquisition of InterActual Technologies.
InterActual has established the de facto standard for seamlessly connecting Hollywood DVD-Video content with both Web- and high-end ROM-based bonus features, the companies described. Sonic believes that with the integration of InterActual’s technology, it will be able to offer its professional customers an enhanced DVD product line. The acquisition will increase Sonic’s portfolio of licensable technologies and permit Sonic to add new features to its DVD-related consumer PC applications.
In connection with the recruitment of employees in this acquisition and the recruitment of other employees in the future, Sonic adopted a 2004 Stock Incentive Plan and reserved 2 million shares of common stock solely for the grant of “inducement” stock options and other stock-based awards. In connection with the InterActual acquisition 22 employees of InterActual Technologies, who became non-executive employees of Sonic following the acquisition, were granted employment inducement stock option grants to purchase a total of 139,500 shares of Sonic common stock. The number of shares involved in these grants amounts to less than 1% of the outstanding common shares of Sonic. All these option grants have an exercise price of $20.38 per share and will vest over a four-year period.
About Sonic Solutions (NASDAQ: SNIC)
Based in Marin County, California, Sonic Solutions (http://www.sonic.com) is the world's leading supplier of DVD creation software for professional, industrial and consumer applications. The majority of major film releases on DVD have been produced on Sonic's professional DVD authoring systems in studios around the world. Sonic's MyDVD® and DVDit!® are the most widely-used DVD creation applications by consumers and video enthusiasts and are the solutions of choice among the key PC and after-market drive suppliers. Sonic's RecordNow! is a leading solution for audio and data mastering. Sonic's AuthorScript, the DVD and CD formatting and burning engine that underlies Sonic's applications, is the most widely deployed DVD software engine and has been licensed by Adobe, Microsoft, Sony, and many others.
Sonic, the Sonic logo, Backup MyPC, CinePlayer, PrePlay, DVD Producer, Edit-on-DVD, NoNOISE, OpenDVD, Sonic PrimeTime, RecordNow! and Simple Backup are trademarks of Sonic Solutions. AuthorScript, AutoDVD, DVDit!, DVD Fusion, MyDVD, PrePlay, ReelDVD, Scenarist, Sonic DVD Creator and Sonic Solutions 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.
For more information, visit
www.sonic.com
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