Sonic Foundry’s Global Learning Exchange™ Announces Partnership with Penn Foster Group

Rhea-AI Summary

Sonic Foundry, Inc. (NASDAQ: SOFO) has partnered with Penn Foster Group to expand access to quality online education in underserved markets. The partnership aims to provide Global Learning Exchange students with a greater variety of program options while enabling Penn Foster Group to expand its global footprint and reach students in emerging markets.

By combining resources and expertise, the partnership will advance Global Learning Exchange and Penn Foster Group’s shared goal of expanding access to quality online education in underserved markets around the world.

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 partnered with Penn Foster Group, a renowned leader in online education. This partnership will provide Global Learning Exchange students with a greater variety of program options while enabling Penn Foster Group to expand its global footprint and reach students in several emerging markets around the world.

Penn Foster Group boasts over 100 years of history in the education field and harnesses that extensive experience to deliver high-quality online education in a broad range of high school, career skills training, and college-level programs. With a longstanding commitment to excellence and a custom-built online learning environment, Penn Foster Group delivers the tools and resources to empower learners on their journey to success.

Sonic Foundry CEO Joe Mozden, Jr. expressed enthusiasm about the partnership, commenting, “We are thrilled to join forces with Penn Foster Group in our mission to democratize education and empower learners around the world to achieve their full potential. Our shared dedication to student-focused innovation in online learning aligns seamlessly, and our whole team is impressed by the range of programs and extensive support resources that Penn Foster Group makes available throughout each student's educational journey. This partnership marks a significant stride towards Global Learning Exchange’s mission of delivering a greater variety of high-quality online education options to students and professionals around the world.”

Penn Foster Group General Manager Stacy Caldwell added, “Penn Foster Group has helped learners discover their own unique pathways to opportunity, and we are excited to expand our programs even further through our partnership with GLX. Access is at our core, and this partnership will help widen our global footprint, opening doors to learners who would not otherwise have education opportunities.”

Global Learning Exchange™ launched its inaugural program in the Bahamas in 2022 and is currently focused on expanding into African markets. The launch of GLX Hubs in Johannesburg, South Africa, Abuja, Nigeria, and Benin City, Nigeria, in August of this year underscores its commitment to reaching learners in underserved regions around the world.

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

To learn more about Penn Foster and its offerings, visit www.partners.pennfoster.edu.

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 Penn Foster Group

At Penn Foster Group, we are transforming online learning to help learners by bringing together Penn Foster, CareerStep, Ashworth College, James Madison High School, the New York Institute of Photography, the New York Institute of Art and Design, and other education platforms. Our history dates back to 1890 when our founder, Thomas Foster, pioneered distance education by offering training by mail for coal miners to get the necessary skills for safer jobs. Today, with the partners who use our education and training programs, we continue that mission of providing flexible training and education for in-demand skills and are building a workforce that's prepared for the future job market.

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/20230815009913/en/

Eamon Doyle

Sonic Foundry

608-310-5891

media@sonicfoundry.com

Source: Sonic Foundry, Inc.

FAQ

What is the partnership between Sonic Foundry, Inc. and Penn Foster Group about?

The partnership aims to expand access to quality online education in underserved markets and provide Global Learning Exchange students with a greater variety of program options.

What is the ticker symbol for Sonic Foundry, Inc.?

The ticker symbol for Sonic Foundry, Inc. is SOFO and it is listed on NASDAQ.

What does Penn Foster Group specialize in?

Penn Foster Group specializes in delivering high-quality online education in a broad range of high school, career skills training, and college-level programs.

Who is the CEO of Sonic Foundry, Inc.?

The CEO of Sonic Foundry, Inc. is Joe Mozden, Jr.

How does the partnership benefit Global Learning Exchange students?

The partnership provides Global Learning Exchange students with a greater variety of program options and access to top-tier online learning solutions coupled with local support resources.