Sony Pictures Digital and Sonic Foundry, Inc. announced today that SPD has acquired all of Sonic Foundry’s desktop software products and related assets in a $19 million-plus deal.
“Sony Pictures Digital is dedicated to the application of talent and technology to create consumer-friendly products and services. The quality of Sonic Foundry’s development team and award-winning software solutions give us the opportunity to offer the best possible products on the market,” says Patrick Kennedy, executive vice president of Sony Pictures Digital.
SPD plans to maintain the desktop software products business in its current home base in Madison, Wisconsin. Approximately 70 former Sonic Foundry employees will be working for SPD out of Sonic Foundry’s former facilities on Sherman Ave. SPD is eager to become a visible corporate citizen in the community, and has already met with area leaders from government and business. Sonic Foundry will continue to operate its rich media communications business with approximately 30 employees in downtown Madison. “The Madison area has demonstrated a commitment to the continued development of technology-based businesses and we look forward to joining this community,” Kennedy continues.
Existing products, such as the industry-leading ACID, Sound Forge and Vegas series of software products, as well as other related assets, are expected to continue in the marketplace. New versions of Screenblast, Movie Studio and Screenblast ACID 4.0 software will be available at the end of August. Additional plans regarding specific software will be announced as they develop.
“We are excited to be entering a new era in Sonic Foundry’s lifecycle,” says Rimas Buinevicius, chairman and CEO of Sonic Foundry. “Consummation of our agreement with Sony allows us to concentrate on building upon our position in the fast-growing rich media communications market. It also allows Sony to take a strong foundation of technology, people and customers we assembled with our desktop software products, integrate it with their own offerings, and create even broader solutions in the future. It offers constituencies of both companies–customers, employees and shareholders–the best opportunity for continuing success moving forward.”
At the heart of the new Sonic Foundry is Mediasite Live, an award- winning rich media communications system used by a growing number of education, corporate and government customers for webcasting, distance education, online training, corporate communications and a host of related applications.
Screenblast, which first debuted in September 2001, gives the consumer the ability to create, enhance and share their digital videos, music and photos with a combination of a powerful software suite and an easy-to-use online service for sharing and personalizing consumers’ media. Screenblast Movie Studio and Screenblast Music Studio (now known as Screenblast ACID 4.0) have been available through retail outlets since October 2002.
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