TDK Corp. said Tuesday its wholly owned U.S. unit has agreed to acquire a 72 percent stake in U.S. interactive software developer Sound Source Interactive Inc. for $5 million.
TDK USA Corp. bought new shares issued by the software firm for a stake of about 30 percent Monday and is to buy additional shares to bring its stake to 72 percent, said the Japanese maker of electronic components and recording media products.
With TDK USA's purchase of a controlling stake, Sound Source Interactive will be renamed TDK Mediactive Inc. and complement TDK's European interactive division, which does business under the same name, TDK said.
Sound Source Interactive develops and sells interactive software products based on license agreements with U.S. moviemakers.
TDK said TDK Mediactive will diversify its product line and develop software products for computers and video game consoles, including next-generation systems.