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Sonic Foundry, Inc. - SOFO STOCK NEWS

Welcome to our dedicated news page for Sonic Foundry (Ticker: SOFO), a resource for investors and traders seeking the latest updates and insights on Sonic Foundry.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Sonic Foundry's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Sonic Foundry's position in the market.

Rhea-AI Summary
Sonic Foundry (SOFO) successfully completes the sale of its Mediasite product and service business to Enghouse Systems Ltd for US$15.5 million in cash. Stockholders voted in favor of the sale, leading to a strategic shift towards new emerging businesses Vidable® and Global Learning Exchange®. CEO Joe Mozden, Jr. expresses confidence in Enghouse's stewardship of the Mediasite brand.
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Rhea-AI Summary
Enghouse Systems Limited (TSX: ENGH) has completed the acquisition of Mediasite SaaS video recording and streaming business from Sonic Foundry, Inc. (OTC: SOFO). The acquisition will expand Enghouse's presence in the Japanese market and enhance its suite of SaaS video software solutions, particularly in the education and event enterprise sectors.
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Sonic Foundry, Inc. (SOFO) announced financial results for the fourth quarter and fiscal year ended September 30, 2023. Total revenue for Q4 was $5.6 million, gross margin was 58%, and net loss was $3.7 million. Fiscal year 2023 saw total revenues of $22.1 million, gross margin at 58%, and a net loss of $19.3 million.
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17.86%
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earnings
Rhea-AI Summary
Sonic Foundry, Inc. (SOFO) has reached a definitive agreement to sell its Mediasite product and service business to Enghouse Systems Ltd. for US$ 15.5 million in cash. The transaction is subject to approval by Sonic Foundry shareholders and certain closing conditions. The acquisition is expected to be completed in the first quarter of 2024.
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7.69%
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Enghouse Systems Limited (TSX: ENGH) and Sonic Foundry, Inc. (OTC: SOFO) have entered into a definitive agreement for Enghouse to acquire the Mediasite business of Sonic Foundry for US$15.5 million in cash. The transaction is subject to approval by Sonic Foundry shareholders and certain closing conditions, expected to be completed in the first quarter of 2024.
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7.69%
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acquisition
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Rhea-AI Summary
Sonic Foundry, Inc. (NASDAQ: SOFO) received a final delisting notice from Nasdaq due to failure to meet the minimum bid price and stockholders' equity requirements. The delisting will be effective on December 5, 2023. CEO Joe Mozden, Jr. expressed disappointment but remains committed to the company's long-term growth strategy.
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Sonic Foundry, Inc. has launched its flagship product, the Vidable platform, which uses AI-powered solutions to improve the usability and value of enterprise video libraries. The platform incorporates three key features: Assistant, Insights, and Transformations. Assistant provides real-time support and search capabilities, Insights analyzes video content to produce data metrics, and Transformations enhances video production quality. The platform prioritizes data security and confidentiality.
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Sonic Foundry's Global Learning Exchange partners with Virtual Internships to provide students with remote internships in their chosen field
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1.85%
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Sonic Foundry's Global Learning Exchange (GLX) has partnered with UNINETTUNO to provide students with affordable access to degree programs.
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-1.49%
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partnership
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Sonic Foundry, Inc.

OTC:SOFO

SOFO Rankings

SOFO Stock Data

1.15M
4.96M
59.92%
0.43%
Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing
Manufacturing
Link
United States
Madison

About SOFO

sonic foundry (nasdaq: sofo) is the trusted global leader for video capture, management and webcasting solutions in education, business and government. the patented mediasite enterprise video platform transforms communications, training, education and events for more than 3,800 customers in 65 countries. sonic foundry is a leader in aragon research’s globe for video content management, frost & sullivan’s lecture capture leader for seven consecutive years, a leader in forrester’s enterprise video platforms and webcasting wave and a challenger in gartner’s magic quadrant for enterprise video content management.