Cambridge SoundWorks and AEI Music form strategic alliance, introduce professional product line.NEWTON, Mass.--(BUSINESS WIRE)--April 18, 1995--AEI Music Network Inc., the world's largest music-for-business programming and service company, and Cambridge SoundWorks Cambridge SoundWorks is an North Andover, Massachusetts based consumer audio manufacturer and retailer. The company is a subsidiary of Creative Technology Ltd.. History Cambridge SoundWorks was founded in 1988 by Henry Kloss, an audio engineer and businessman. Inc. (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 :HIFI n. 1. An electronic device that plays phonograph records, reproducing the original sound with a high degree of fidelity. It superseded the older phonographs, and itself is being displaced in popularity by CD players. ), the country's largest factory direct stereo company, have announced a strategic business alliance. The two companies are joining forces to provide high performance commercial audio systems exclusively for AEI AEI American Enterprise Institute AEI Archive of European Integration AEI Australian Education International AEI Automotive Engineering International AEI Australian Education Index AEI Albert Einstein Institute Music Network customers. The new Cambridge SoundWorks Pro Line will be offered through AEI Music's 287 national, regional and affiliate offices throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada. "AEI Music Network is an ideal partner for Cambridge SoundWorks," said Cambridge SoundWorks President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Tom DeVesto. "Their substantial established customer base and large network of professional installers allows them to dominate the commercial music system market worldwide." "We are pleased to be associated with Cambridge SoundWorks' critically acclaimed line of speakers and music systems," said AEI chairman/CEO Michael Malone
Michael Malone is an American author, born in Durham, North Carolina. . "This powerful new relationship, enhanced by the acoustic design expertise of Henry Kloss Henry Kloss (1929, Altoona, PA–January 31, 2002, Cambridge, MA) was a prominent audio engineer and businessman who helped advance high fidelity loudspeaker and radio receiver technology beginning in the 1950s. , will assure that AEI maintains its position as the world's leading supplier of music-for-business programming and services." Based in Newton, Mass., Cambridge SoundWorks is the country's first and largest factory direct stereo company. The company manufactures 15 different models of stereo, home theater An audio/video entertainment center that has a large-screen TV and hi-fi system with three speakers in the front (left, right and center) and left and right speakers in the rear. Starting in the early 1990s, video inputs were added to stereo receivers and preamplifiers. and computer speakers. All Cambridge SoundWorks speakers are designed by Audio Hall of Fame member Henry Kloss, founder of Acoustic Research, KLH KLH Keyhole Limpet Hemocyanin KLH Knight of the Legion of Honour KLH Kloss, Lowe and Hoffman (audio equipment brand) KLH Korea Light Helicopter and Advent. Cambridge SoundWorks products are sold directly to the consumer through a national catalog and factory stores in Massachusetts, New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). and California. Beginning in June 1995, Cambridge SoundWorks products will also be sold through specially erected speaker demonstration walls in Best Buy stores nationwide. Cambridge SoundWorks' common stock is traded on NASDAQ, symbol HIFI. AEI Music Network is the world's leading supplier of music sound systems for retailers and the hospitality industry. Sales, service and distribution are handled by AEI Music's 287 national, regional and affiliate offices throughout the United States and Canada. International services are provided through company owned offices in Mexico, Australia, and the United Kingdom, as well as a global network of franchises in over 40 other countries. AEI recently formed AEI Music Choice as a joint venture with Music Choice Europe, a partnership including Warner Music Group Warner Music Group (WMG) is one of the four major record labels. Warner Music Group also has a publishing arm, Warner/Chappell Music, which dates back to 1929, when Jack Warner, president of Warner Bros. Pictures Inc. and Sony Software, to provide digital music programming in Europe. In North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , AEI Music's clients include The Gap, The Limited, Banana Republic banana republic n. A small country that is economically dependent on a single export commodity, such as bananas, and is typically governed by a dictator or the armed forces. , J. Crew, Eddie Bauer, Talbots, Blockbuster Music and Chili's. Cambridge SoundWorks and AEI will hold private showings of the new "Pro Line" for AEI affiliates on May 1, 1995, at the National Systems Contractors Association Expo '95 in Indianapolis. AEI Music Network background AEI Music Network is the world's leading and most innovative music service company and is responsible for giving music a strategic role in today's businesses. Currently providing business music services to approximately 120,000 retail and hospitality business locations around the world, AEI generates annual revenue of approximately $90 million. AEI's music is delivered via tape, CD, and satellite systems providing a total of 13 different music services. The company employs approximately 500 people worldwide with headquarters in Seattle. In the United States, sales, service and distribution are handled through nine owned offices and approximately 150 sales/service affiliate offices providing complete nationwide coverage. International services are provided through the company's owned offices in Mexico (Musimax), Australia (Sontec), U.K. (AEI Reditune Music B.V.) as well as a global network of franchises in 40 plus other countries. AEI has recently formed AEI Music Choice as a joint venture with Music Choice Europe, a partnership including Warner Music Group and Sony Software, to provide digital music programming in Europe. AEI supplies in-flight audio and video programming to 27 different airlines around the world through AEI Inflight, headquarters in Orange, Calif. AEI Music provides businesses with innovative music programming to attract customers, create or enhance a particular image and consistently convey the desired marketing theme. It is known for its ability to design and provide the music and sound systems which are best adapted to accomplish the goals of each of its customers and then to coordinate and deliver sales, installation and customer service around the world. The company was founded in 1971 by Michael J. Malone, who continues as chairman and CEO. AEI's innovative concept of using contemporary music programming as a marketing tool primarily within the retail, hospitality, and leisure sectors has tremendous success. U.S. market leaders like Gap Inc., Limited Inc., Red Lobster, Toys R Us, Melville, Chili's and United Airlines use AEI's music programming exclusively. With more than 20 years of experience in the business music industry, AEI has the knowledge and expertise to help any business reap the marketing benefits of music. CONTACT: AEI Music Network Cathy Keller, 800/831-8001, ext. 5205 or Cambridge SoundWorks Tom DeVesto, 800/367-4434, ext. 127 |
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