Sonic Foundry’s Global Learning Exchange™ Announces Partnership with Virtual Internships

Rhea-AI Summary

Sonic Foundry's Global Learning Exchange partners with Virtual Internships to provide students with remote internships in their chosen field

Positive

• Qualified students will be guaranteed an internship in their chosen field
• Students will gain valuable professional experience during their studies
• Partnership aligns with the mission to increase access to experiential learning opportunities

Negative

• None.

The partnership will provide Global Learning Exchange students with the opportunity to gain valuable professional experience during their studies via a remote internship in their chosen field.

MADISON, Wis.--(BUSINESS WIRE)-- Sonic Foundry, Inc. (NASDAQ: SOFO), the trusted leader in video capture, management, and streaming solutions, today announced that its Global Learning Exchange™ (GLX) business, which provides students around the world with affordable access to top-tier online learning solutions coupled with local support resources, has finalized a new partnership agreement with Virtual Internships, the leading platform that guarantees internship placements for students worldwide in their chosen career field.

Virtual Internships has a global network of 13,000+ host companies in 80+ countries spanning a variety of industries. This extensive reach guarantees placement for students regardless of their location or background in their field of interest. Additionally, Virtual Internships provides wrap-around support to ensure students are successful including career coaching, continuous check-ins, and training for employers on how to structure their internship projects to maximize student outcomes.

This innovative partnership aligns with the organizations’ shared mission to increase access to valuable experiential learning opportunities. Qualified students currently enrolled in traditional degree programs will be guaranteed an internship in their chosen field, enabling GLX students around the world to enrich their career-ready skills and experience prior to entering the job market.

Sonic Foundry CEO Joe Mozden, Jr. commented, “Virtual Internships is an ideal partner for Global Learning Exchange. Since day one, we have focused on providing specifically career-oriented education opportunities to our students, and we know from the data as well as our deep experience in higher education markets that a high-quality internship can make a huge difference in students’ transition from academic work to a professional career. We are thrilled that we will now be able to connect our students with the opportunities that Virtual Internships can provide.”

"Our mission is to democratize access to internships for individuals worldwide. Together, with GLX, we are ensuring that every enrolled student, regardless of their background or location, has the opportunity to gain invaluable professional experience in their chosen field,” shared Daniel Nivern, CEO of Virtual Internships. “This collaboration exemplifies our commitment to providing equal access to transformative global learning experiences."

Global Learning Exchange launched its inaugural program in the Bahamas in 2022 and is currently focused on expanding into African markets with the launch of new GLX Hubs in South Africa and Nigeria in August.

For more information about how Virtual Internships partners with global organizations and educational institutions to expand access to internship opportunities, visit www.virtualinternships.com.

For additional information on Global Learning Exchange, visit www.globallearningexchange.com.

Prospective GLX students who are interested in learning more about Virtual Internships should contact the local GLX Hub in their region. Contact information for GLX Hubs can be found at www.globallearningexchange.com/locations/.

About Global Learning Exchange™

Global Learning Exchange™ (GLX) is an innovative education solution designed to provide highly motivated students and professionals around the world with cost-effective access to life-changing higher education opportunities. Through partnerships with top US Universities and skill-based certification partners, Global Learning Exchange offers students a unique proposition: flexible online learning coupled with local, in-person support resources. In each country where its programs are available, Global Learning Exchange operates local hub facilities staffed by a team that provides admission and application assistance, career development resources, and other student support services. To learn more about how Global Learning Exchange is connecting students around the world with the resources they need to pursue their dreams, visit www.globallearningexchange.com.

About Sonic Foundry

Founded in 1991 and headquartered in Madison, Wis., Sonic Foundry (NASDAQ: SOFO) is dedicated to transforming how the world works and learns through innovative and scalable technology solutions. We help customers maximize the value of their video initiatives and infrastructure while leveraging our expertise and global footprint to help unlock a smarter, more connected world for learners, workers, and entrepreneurs everywhere. Sonic Foundry’s family of brands includes Mediasite^®, Video Solutions, Vidable^® and Global Learning Exchange^™ which are trusted by thousands of educational institutions, corporations, and health care organizations in dozens of countries around the world. For more information on how Sonic Foundry’s solutions can empower you and your organization to seize today’s opportunities as well as those of the future, visit www.sonicfoundry.com.

© 2023 Sonic Foundry, Inc. product and service names mentioned herein are the trademarks of Sonic Foundry, Inc. or their respective owners.

About Virtual Internships

Virtual Internships is the leading internship platform that guarantees internship placements for students worldwide. Through partnerships with universities, governments, and non-profit organizations, Virtual Internships removes the traditional barriers to internships so that students can access relevant career opportunities regardless of their location or background. Virtual Internships has a network of 13,000+ host companies in 18 career fields ensuring every student gains the skills and experience to enter the workforce with confidence.

Forward-Looking Statements

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231018099796/en/

Media contact:

Eamon Doyle

Sonic Foundry

608-310-5891

media@sonicfoundry.com

Grace Homer

Virtual Internships

+44 (0)7538 338 152

press@virtualinternships.com

Source: Sonic Foundry, Inc.

FAQ

What is the partnership between Global Learning Exchange and Virtual Internships?

The partnership allows students to gain professional experience through remote internships in their chosen field.

What does Virtual Internships provide to students?

Virtual Internships provides wrap-around support, including career coaching and training for employers.

What are the benefits of the partnership for students?

Students will have guaranteed internships in their field, enriching their career-ready skills and experience.

What is the mission of Global Learning Exchange?

The mission is to increase access to valuable experiential learning opportunities for students.

Where can students find more information about the partnership?

Students can visit www.virtualinternships.com for more information.