Polk acquires financial stake in Genesis Technologies
Loudspeaker manufacturer Polk Audio announced on December 31 that it had acquired an interest in <A HREF="http://www.gen-tech.com">Genesis Technologies</A>, manufacturer of both loudspeakers and digital products. Not only did Polk invest $500,000 in Genesis convertible preferred securities, it also obtained a three-year option to purchase the Colorado-based high-end audio company, which is led by three industry veterans: Arnie Nudell (co-founder of Infinity), Paul McGowan (co-founder of PS Audio), and Mark S. Schifter (co-founder of Audio Alchemy).