Sonic Foundry, Inc. (NASDAQ: SOFO), the trusted leader for video content management and webcasting solutions, announced today that the company has entered into non-binding term sheets to acquire MediaMission, and to purchase the remaining shares of stock in Mediasite K.K., the market leading education and enterprise video providers in the Netherlands and Japan. With these agreements, Sonic Foundry expects to significantly expand its global market reach in Europe and the Asia-Pacific region, and accelerate the company's commitment to enterprise video communications world-wide.
Sonic Foundry, which has seen a 25% growth in international billings, believes the acquisition of MediaMission will provide operational synergies between the combined organizations by leveraging a larger geographic and cloud footprint; allowing the company to better align with customers globally; providing follow-the-sun customer support; and further driving global sales.
“Sonic Foundry’s commitment to a global customer base will provide the support we need to expand our combined footprint in Europe, focus on new product offerings and tailor new business models to drive more business,” said Robert Jan Brouwer, co-founder, MediaMission. “It is our mission to make online video communication easy to use and produce in the enterprise and education. I look forward to this deeper partnership with Sonic Foundry as we work together to realize a shared vision of providing scalable, secure and streamlined video content management solutions.”
MediaMission, founded as a Sonic Foundry partner in 2004, has been a catalyst for the rapid adoption of large-scale, enterprise-wide academic video programs in the region’s largest universities, including TU Delft.“TU Delft’s Collegerama, powered by Mediasite, is home to 15,000 hours of video, is a member of edX and a model for universities around the world who are looking to realize their campus wide video content management strategies. The program would not be what it is today without the vision and partnership of MediaMission and Sonic Foundry,” said Leon Huijbers, NewMedia Centre, TU Delft.