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e.Digital Corp. and Musical Electronics Ltd. Enter Into Multi-Year Licensing Agreement |
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Saturday, 12 June 2004 |
e.Digital Corp. (OTC:EDIG), a global provider of comprehensive digital product development and designs, and Musical Electronics Ltd., a major Asian OEM manufacturer with annual sales totaling $160 million, today announced a multi-year licensing agreement.
Under the agreement, Musical licenses certain technology from e.Digital for use in Musical's widely-licensed OEM products, and will pay e.Digital licensing fees as well as per-unit royalties.
Christopher Tse, managing director at Musical Electronics Ltd., stated, "We always strive to offer our OEM customers the latest in design and technology for their branded products. e.Digital's portable digital music player designs and patented technology will become the foundation for a number of new products to be licensed by our OEM customers and marketed worldwide. We look forward to a lasting, successful business relationship."
Fred Falk, president and CEO of e.Digital, said, "We are pleased to license our technology to Musical, who has earned their reputation as a high-volume manufacturer supplying electronics to globally-recognized consumer electronics companies. Through this agreement we expect Musical's OEM customer base to incorporate our technology into multiple brand-name digital music players. This agreement is an important milestone in our business plan to license our product platforms and patented technology to high-volume manufacturers and OEMs worldwide."
About Musical Electronics Ltd.
Established in 1976, Musical Electronics Ltd. is a Hong Kong-based ISO 9002 certified company with 650,000 square feet of vertically integrated manufacturing facilities in China. Musical manufactures and distributes a full line of ODM/OEM digital audio, digital imaging, car navigation and telecommunication consumer electronics products. Musical's export markets are North America and Europe.
About e.Digital
e.Digital Corp. offers an engineering partnership for the world's leading electronics companies to link portable digital devices to PCs and the Internet. e.Digital develops and markets to consumer electronics manufacturers complete end-to-end solutions for delivery and management of open and secure digital media with a focus on music players/recorders and portable digital voice recorders. Engineering services range from the licensing of e.Digital's patented MicroOS(TM) file management system to custom software and hardware development, industrial design and manufacturing services. For more information on the company, please visit www.edig.com.
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Last Updated ( Saturday, 12 June 2004 )
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