Technology Horizons Corp. in Garden City, NY said it increased its stake in its subsidiary, CDKnet, up to 74% in an exchange for stock in the company, which is developing a multimedia technology for marketers and advertisers.
The transaction represents a major step in consolidating the CDKnet subsidiary under the umbrella of Technology Horizons, the company said.
CDKnet has been experiencing significant demand for its proprietary CDK technology in the marketing of consumer products and financial services.
Technology Horizons said the CDK technology combines Internet browser functionality, audio, and full screen, full motion video in one platform that has broad application for the multimedia marketing , advertising and promotion areas, especially in the music and entertainment industry and music industry special projects business.
Steven A. Horowitz, president and CEO of Technology Horizons said that “CDKnet is seeing tremendous interest in its technologies and has entered into a contract with a major consumer services company. The contract provides for the production of a substantial number of disks which provide an integrated multimedia package with links to the various services of the company.
“We believe that this is only the beginning of the demand for the CDK technology and exemplifies its broad application as an Internet, multimedia marketing tool; in this case for the financial services industry.”
CDKnet said it has already entered into licensing agreements with entertainment companies such as Sony Music, MCI, NAXOS, Sandals Resorts, The New York Yankees, Madison Square Garden (New York Knicks), Trimark Home Video, Weight Watchers, MTV Networks, EMI-Capitol Entertainment Properties( E-Prop), Wind-Up Entertainment, King Biscuit, and BMG Special Markets for its proprietary CDK and PC Game Player technologies and is engaged in discussions with film studios, recording labels, recording artists, broadcast networks and Internet access providers.
CDKnet’s proprietary Web site Metrotainment provides a vehicle for viewer entertainment via games, streaming of audio and video footage, on-demand online viewing of movies and videos, and online sales of music CDs and promotional items at the CDKnet CD-Express.