3DO, Matsushita enter into CD pressing agreement.REDWOOD CITY Redwood City, city (1990 pop. 66,072), seat of San Mateo co., W Calif., on San Francisco Bay; inc. 1868. Manufactures include commmunications, electrical, electronic, and medical equipment. , Calif.--(BUSINESS WIRE)--Jan. 6, 1995--The 3DO Company today announced that it has agreed to grant Matsushita Electric Industrial Co., Ltd. the right to manufacture 3DO-formatted CDs in Japan, and the right to designate des·ig·nate tr.v. des·ig·nat·ed, des·ig·nat·ing, des·ig·nates 1. To indicate or specify; point out. 2. To give a name or title to; characterize. 3. approved third-party pressing facilities as additional sources of 3DO CD products. As part of this agreement, Matsushita has agreed to provide 3DO with the initial sum of $4 million, plus ongoing royalties to be determined on a per disc basis. "We are pleased to add Matsushita to our growing roster of CD pressing resources," said Hugh Martin, 3DO's Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "Matsushita has been a valued partner as a 3DO hardware and software licensee licensee n. a person given a license by government or under private agreement. (See: license, licensor) LICENSEE. One to whom a license has been given. 1 M. Q. & S. 699 n. and manufacturer, and we look forward to working with this world-class company in this new capacity." Based in Redwood City, Calif., The 3DO Company (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : THDO) develops and licenses advanced interactive technology to hardware and software companies worldwide. The company's initial product design, the 3DO Interactive Multiplayer system, was created to deliver a breakthrough in interactive entertainment at an affordable price. 3DO also develops, publishes, and distributes CD-ROM CD-ROM: see compact disc. CD-ROM in full compact disc read-only memory Type of computer storage medium that is read optically (e.g., by a laser). software for the 3DO system. -0- Note to Editors: 3DO, the 3DO logo, and Interactive Multiplayer are trademarks of The 3DO Company. All other brand or product names are trademarks or registered trademarks of their respective owners. CONTACT: The 3DO Company, Redwood City Cindy McCaffrey, 415/261-3236 |
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