This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sonic Foundry Agrees To Acquire Japanese Enterprise Video Company, Mediasite K.K.

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 purchase the remaining shares of stock in Mediasite K.K., and to acquire MediaMission, the market leading enterprise video providers in Japan and the Netherlands. With these agreements, Sonic Foundry expects to significantly expand its global market reach in the Asia-Pacific region and Europe, and accelerate the company's commitment to enterprise video communications world-wide.

Sonic Foundry saw a 43% growth in billings in Japan and a 25% growth in international billings overall in fiscal year 2013. The company believes the acquisition of Mediasite K.K. will highlight operational synergies of the combined organizations by bringing 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.

The worldwide market for enterprise streaming solutions totaled $574 million in 2012 and is poised for continued growth, according to Wainhouse Research. The analyst firm projects the market will expand at a compounded annual rate exceeding 20% for the next five years with total annual revenues for enterprise streaming solutions passing the $1 billion threshold in 2016.

Mediasite K.K. is a Sonic Foundry partner, and a company Sonic Foundry has had a minority ownership interest in since 2001. In 2011 the company received the Japan e-Learning Award from the Ministry of Education, Culture, Sports, Science & Technology for innovations in using webcasting solutions for cancer education along with Tsukuba University.

In addition to higher education, Mediasite K.K. also has built a strong and successful corporate and events customer base, including the second largest pharmaceutical company in Japan, Otsuka Pharmaceutical Co Ltd.; Sanofi K.K.; Nippon Steel Sumitomo Metal; Ernst & Young ShinNihon; Hakuhodo Inc.; Toshiba Solutions Corporation; and Mazda Motor Corporation, which has been using Mediasite since 2006 to strengthen internal communication.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs