INCC Completes Acquisition of SoundTech AI, Inc.
International Consolidated Companies (OTCPink:INCC) has successfully acquired SoundTech AI, Inc. for $150 million in preferred stock effective July 22, 2021. This strategic move aims to enhance INCC's position in the audio technology market with SoundTech AI's proprietary Holographic SoundField (HSF™) technology, designed to deliver immersive audio experiences across multiple platforms. Key executives from SoundTech AI, including CEO Eric Koenig, will join INCC's board, signaling a commitment to capitalize on advanced audio innovations.
- Acquisition of SoundTech AI enhances INCC's market position in audio technology.
- SoundTech AI's Holographic SoundField technology offers immersive audio without special hardware.
- Expected launch of HSF™ software in Q1 2022 may drive revenue growth.
- None.
SARASOTA, FL / ACCESSWIRE / July 22, 2021 / International Consolidated Companies, Inc. (OTCPink:INCC), completes the acquisition of SoundTech AI, Inc. for
Anthony Gallo, newly appointed INCC board member explained, "It is truly exciting to be at the forefront of an incredibly important technology that will transmorph the way in which music is made, heard, perceived and experienced. I look forward to working with our operating team and our partners at INCC to realize the vision of SoundTech AI."
As previously reported, SoundTech AI has developed an unprecedented Next Generation 360 Immersive Audio Experience delivered through its proprietary software that bridges quantum computing and artificial intelligence to transform sound and music forever.
SoundTech AI's flagship product, Holographic SoundField (HSF™), is a landmark achievement for all fields of entertainment; providing its proprietary and patent pending enhanced audio and 3D sound technology for live concert performances, recorded music, streaming, films and gaming.
The listener will be fully immersed in multi-dimensional audio that does not require the purchase of additional or special hardware or equipment.
SoundTech AI's transformative and immersive Holographic SoundField™ technology is enabled by AI audio software that has a zero-install download for immediate streaming delivery to ANY device including:
- Headphones, Earbuds or Inner Ear Monitors
- Speakers (Smart speakers, Stereo Speakers, wireless or wired)
- Gaming (Xbox, PlayStation and IOS/Android)
- Home or Movie Theater (THX, Dolby & digital theater formats)
- Streaming/Broadcast Services (Audio Streamers, Video Streamers)
- Concerts, Live Events and Performances
Mark Romeo, Chief Marketing Officer commented, "High Quality, Digital Audio has finally arrived, it's called HSF™. Our tech leverages the highest quality digital formats available - far beyond CD quality. What's super-exciting is that the HSF™ technology enhances the audio quality of all best-in-class audio standards, including: Dolby Atmos, THX Sound, DBX, to name a few. We look forward to working with the world's leading media companies to bring the highest quality digital sound into the 21st century".
SoundTech AI's extensive intellectual property portfolio includes exclusive licenses on one issued monumental patent, six pending patents, and 26 trademarks. The company will launch its revolutionary HSF™ software Q1 2022.
Antonio Uccello, Chairman of INCC remarked, "As tech-entrepreneurs, our team was so impressed by the SoundTech AI's Disruptive Audio Technology and the company's accomplished tech, marketing, and creative management team, we immediately jumped in to this culturally transformational venture! Our management and board were blown away by what we heard. Ground-breaking tech and the ability to hear exceptional sound on any device just like the master recording is a win! We look forward to working with SoundTech AI to efficiently deploy investment capital to become the recognized market leader in the rapidly growing enhanced audio market."
The company's blue-chip management team includes:
CTO, Chief Scientist, and Co-Founder Andrew Denis. Andy was involved in the conception and formation of the MIT Media Lab, NEXT Computer (acquired by Apple), the initial programming and creation of Bitcoin, and many other ground-breaking technologies.
CEO, Chief Innovation Officer, and Co-Founder Eric Koenig is a seasoned IP developer and tech entrepreneur. Eric has filed over 50 patents in a variety of industries including mobile technologies, interactive advertising and branded entertainment, voice search, social media, gaming and blockchain, eCommerce, augmented reality, the medical field, quantum computing, artificial intelligence, machine learning, and others. Over the last 30 months, Eric has transacted, via license or sale, more than a dozen of his patents.
Chief Financial Officer, Denise DePaola is a well-credentialed financial executive and Certified Public Accountant who grew and sold her firm Fundadministration, Inc. to the largest hedge fund administrator in Australia. Mainstream Group, a public company, traded as MAI on the ASX, acquired Fundadministration, Inc. in a multi-million-dollar cash and stock transaction.
Chief Marketing Officer, Mark Romeo is a marketing and media executive with 20-plus years of experience launching new products and services in multiple industries. Mark was the founding CMO of Fresh Direct (2020 Sales
Rounding out the senior management team are four entertainment industry heavyweights to drive revenue throughout enterprise and consumer market segments.
Chief Communications Officer, Mark Young is considered a marketing and branding maverick for music artists, celebrities and icons in the fields of entertainment, music, sports, and fashion. He's represented and collaborated with some of the most celebrated and legendary talent in the world, including Diana Ross, Whitney Houston, Jennifer Lopez, Earth, Wind & Fire, Naomi Campbell, Ciara, Babyface, Kenny G, and Seattle Seahawks' QB Russell Wilson. Young leads Media Relations at Arista and J Records and was instrumental in launching the careers of Alicia Keys, Maroon 5 and Rhianna.
Chief Legal Officer, Anthony Gallo is a leading music and entertainment attorney who has represented some of the top-selling musicians, producers, executives and industry entities of the past two decades. Clients have included, Ric Wake, Amber Ferrari, Connie Stevens, Richie Cannata, Eren Cannata, Gina Styles (Vixen), Jon Bellion, John Gatto, (Good Rats), Joe Franco (Good Rats), Los Hombres, Edwin Yearwood and Krosfyah, Red Cat, Lords of 52nd Street (Billy Joel), Black Ink Music Publishing, Brown Dog Records, Ltd., and Cove City Sound Studios, Inc.
Creative Business Development Officer, Genesis Jones is an entertainment thought-leader and creative innovator as a recording artist, songwriter, music producer, and executive producer of films, television, and global live events. She is co-founder of the annual Atabey St. Barth's featuring music, fashion, art and benefiting ocean conservation in the Caribbean. She is responsible for driving revenue growth across multiple industry segments and leads the company's global philanthropic endeavors. Jones also serves as Global Ambassador for The United Nations Women for Peace Association.
Vice President of A&R, Eren Cannata is an Emmy award-winning songwriter, producer, musician, and co-owner of Cove City Sound Studios in Glen Cove, New York. Cannata has collaborated with top music artists and producers including Demi Lovato, Justin Tranter, Fifth Harmony, CID, Alma, Nina Sky, Timbaland, Shea Diamond, and Ron Pope. Eren has an advanced degree in music production and business from the prestigious Clive Davis Institute of Recorded Music at New York University's Tisch School of the Arts. Eren helped create the current songwriting curriculum at the school and continues his involvement through teaching and mentorship. He has worked with the Boys and Girls Club of America on a premier program called, S.O.N.G. (Sounds of a New Generation), teaching the art of writing and creating a hit song to inner-city kids.
Source: International Consolidated Companies, Inc.
Contact Information:
For SoundTech AI, Inc.:
Mark Romeo
mromeo@soundtech.ai
917-447-6672
For INCC:
Antonio Uccello
Baltic38dp@me.com
303-941-9999
Click the link below to sign up and be the first to hear and feel the transformation of sound and music through the proprietary Holographic Sound Field™.
SoundTech AI's Next Generation 360° Immersive Audio Experience
About Company (INCC): International Consolidated Companies (INCC) was founded in 2002. INCC is focused on acquiring and growing businesses that offer innovation, quality, and cost-efficient technologies.
Forward-Looking Disclaimer: This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risk and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from the statements made herein.
SOURCE: International Consolidated Companies, Inc.
View source version on accesswire.com:
https://www.accesswire.com/656711/INCC-Completes-Acquisition-of-SoundTech-AI-Inc
FAQ
What is the significance of INCC's acquisition of SoundTech AI?
How much did INCC pay for SoundTech AI?
When is SoundTech AI's Holographic SoundField technology expected to launch?
Who are the new board members of INCC following the acquisition?
What impact does the acquisition have on INCC's business strategy?
