Foundry grows globally with two acquisitions
Special to The Freeman
Nov. 21, 2013
MADISON – Sonic Foundry Inc. on
Thursday said it plans to acquire two companies to increase its
presence in the global market.
The Madison-based provider of video communication services is
paying about $5.85 million for the remaining stock of the
Japanese video company Mediasite K.K. The company had already
been a Sonic partner.
Sonic is also acquiring MediaMission, a Netherlands firm, for
The Mediasite deal is expected to close within 90 days, and the
MediaMission transaction is expected to close within 45 days.
“Mediasite K.K.’s success in bringing video applications to a
growing number of customers is testament to the upward momentum
of big global trends in enterprise video management. The company
complements our existing strategy to enhance communication
through the power of video,” said Gary Weis, CEO of Sonic