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Sonic Foundry Announces Organizational Changes to Support High-Growth Strategy
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Rhea-AI Summary
Sonic Foundry (NASDAQ: SOFO) has announced new appointments and service offerings aimed at diversifying its operations and strengthening its brand focus. Duane Glader is appointed General Manager of Operations, Sales, and Business Development for the Global Learning Exchange (GLX). This restructuring aims to enhance the company's support for its three business lines: Mediasite, Vidable™, and GLX. The company is also expanding Mediasite Events to include various video services, attracting increased interest from the investment community.
Positive
Appointment of Duane Glader as General Manager to bolster GLX business.
Expansion of service offerings in Mediasite Events to include custom integrations and production management.
Increased attention from investment communities and new analyst coverage.
Negative
None.
New appointments and service offerings will accelerate the company’s diversification and reinforce focus on its independent brands.
MADISON, Wis.--(BUSINESS WIRE)--
Sonic Foundry, Inc. (NASDAQ: SOFO), the trusted leader in video capture, management and streaming solutions, today announced new organizational changes in support of its ongoing transition to a high-growth, multi-brand enterprise.
Effective immediately, Duane Glader, formerly Senior Vice President for Sales, will serve as General Manager of Operations, Sales, and Business Development for Sonic Foundry’s new Global Learning Exchange™ (GLX) business. GLX will provide students around the world with cost-effective access to top-quality higher education programs coupled with local support resources including mentoring and career development opportunities. Earlier this month, GLX celebrated the Grand Opening of its inaugural Hub facility in the Bahamas.
Glader’s appointment completes Sonic Foundry’s vision for a new corporate structure that will support its three business lines—Mediasite, Vidable™, and Global Learning Exchange™—under the direction of a single, highly experienced General Manager for each business unit. As previously announced, Mike Snavely will serve as GM of Vidable™ and Rob Lipps will continue to serve as GM of Mediasite.
This new structure will leverage a combination of shared services and dedicated resources for each of its three business lines and represents an evolution from focusing on its flagship Mediasite brand to expanding and supporting a family of brands.
Sonic Foundry CEO Joe Mozden, Jr. commented, “Since day one of my tenure with the company, we have focused on transforming Sonic Foundry into a modern, high-growth enterprise by reinvigorating our Mediasite brand and moving aggressively into new markets where we have a right to win. I am highly confident that our three GMs will bring the leadership we need to accelerate innovation, market penetration, and deployment of our Mediasite, Vidable™, and Global Learning Exchange™ businesses.”
The company also announced that its Mediasite Events business will expand and diversify its scope of client offerings to include custom integrations, scalable editing and enhancement solutions, production management, and other events-adjacent video services.
Sonic Foundry’s high-growth, multi-brand strategy has started to attract attention and interest from the investment community, including new analyst coverage. For a copy of the most recent report, please contact jvanderaarde@maximgrp.com.
About Sonic Foundry
Sonic Foundry (NASDAQ: SOFO) is the global leader for video capture, management and streaming solutions as well as virtual and hybrid events. Trusted by thousands of educational institutions, corporations, health organizations and government entities in over 65 countries, Sonic Foundry’s solutions include Mediasite®, Mediasite Connect, Vidable™ and Global Learning Exchange™. Learn more at www.sonicfoundry.com.
This news release contains forward-looking statements about the products and services of Sonic Foundry within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include statements about our products and services, our customer base, strategic investments, new partnerships, our future operating results, and any statements we make about the company’s future. These types of statements address matters that are subject to many risks and uncertainties. Actual results could differ materially from the forward-looking guidance we provide. Any forward-looking statements should be considered in context of the risk factors disclosed in our periodic forms 10Q, 10K and other filings with the SEC. These filings can be accessed on-line at www.sec.gov and other websites or can be obtained from the company’s investor relations department. All of the information and disclosures we make in this news release regarding our business, including any forward-looking guidance, are as of the date given and we assume no obligation to update or change this information, regardless of subsequent events.
