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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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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 $19.3 million.
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17.86%
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Sonic Foundry, Inc. (SOFO) has reached a definitive agreement to sell its Mediasite product and service business to Enghouse Systems Ltd. for US$ 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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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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-6.25%
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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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Sonic Foundry CEO invited to present at conference on Emerging Growth in A.I.
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SONIC FOUNDRY INC
OTC:SOFO
SOFO Rankings
SOFO Stock Data
546.27k
4.96M
59.19%
0.43%
Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing
Manufacturing
United States of America
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.