EXHIBIT 99.1
news release SONIC(TM)
FOR IMMEDIATE RELEASE FOR MORE INFORMATION, CONTACT:
December 10, 2001 Paul Lefebvre, Sonic Solutions
415.893.8000 phone . 415.893.8008 fax
NASDAQ:SNIC paul_lefebvre@sonic.com email
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Sanshin Electronics Co., Ltd. Invests
$1 Million in Sonic Solutions
Marin County, California (December 10, 2001) - Sonic Solutions announced today
that its Japanese distributor, Sanshin Electronics Co., Ltd. made a $1 million
equity investment in Sonic on December 3, 2001. Sanshin acquired 250,000 shares
of Series E preferred stock convertible into common at $4 per share and carrying
a 4% dividend. The preferred stock also has customary rights related to
registration, liquidation and other terms.
Commenting on the investment, Bob Doris, President of Sonic, said, "We are very
pleased that Sanshin has decided to make this investment in Sonic. Sanshin has
been a distributor of our professional and consumer products in Japan since
1998. We have been very pleased with our distribution relationship with Sanshin
and believe that this investment further enhances the bonds between the two
companies." Mr. Mitsumasa Matsunaga, President and Representative Director of
Sanshin Electronics Co., Ltd. commented, "Sonic is the market leader in
supplying professional and consumer DVD authoring systems. We believe that this
market, especially the consumer segment, is about to experience explosive
growth. We are very excited about the potential for these products as well as
for our investment in Sonic."
About Sanshin Electronics Co., Ltd.
Established in 1951 and based in Tokyo, Japan, Sanshin Electronic's business is
centered on electronic devices and electronic equipment. Though a commercial
firm, Sanshin Electronics is equipped with a high-level development capacity and
technical support system, and is engaged in the development of LSIs and
application software. Thanks to these activities, Sanshin creates diverse
products with added value and continues to supply high quality products meeting
the requirements of its users.
About Sonic Solutions (NASDAQ: SNIC)
Based in Marin County, California, Sonic (http://www.sonic.com) is the leading
manufacturer of solutions for DVD and audio publishing. SonicStudio(TM) HD is
the leading digital workstation for preparing audio for release on CD and is the
first for creating content for the new DVD-Audio format. Sonic DVD Creator(R),
Sonic Scenarist(R), and Sonic DVD Fusion(R) 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 DVDit!(R)
(http://www.dvdit.com) is the first application for DVD authoring targeted at
videographers and corporate video producers, and is bundled with major video
editing, capture, encoding and media production systems. Sonic MyDVD(TM)
(http://www.mydvd3.sonic.com) is the first DVD authoring application for
consumers, making it easy to capture "your life on DVD." Sonic is a full voting
member of the DVD Forum, the standards-setting body for the DVD format.
Note to Editors: (c) 2001 Sonic, Sonic Solutions, the Sonic logo, MyDVD, and
ReelDVD are trademarks of Sonic Solutions. DVD Creator, DVD Fusion, Scenarist,
DVDit!, and SonicStudio are registered trademarks of Sonic Solutions. All other
company or product names are trademarks of their respective owners.
Specifications, pricing and delivery schedules are subject to change without
notice.
The above paragraphs of this press release contain forward looking statements
that are based upon current expectations. Actual results could differ materially
from those projected in the forward looking statements as a result of various
risks and uncertainties including, among others, the timely introduction and
acceptance of new products, costs associated with new product introductions, the
transition of products to new hardware configurations and platforms and other
factors, including those discussed in the Company's annual and quarterly reports
on file with the Securities and Exchange Commission. This press release should
be read in conjunction with the Company's most recent annual report on Form 10-K
and quarterly report on Form 10-Q on file with the Securities and Exchange
Commission, which contain a more detailed discussion of the Company's business
including risks and uncertainties that may affect future results.