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Sony Completes Acquisition of Sonic Foundry

Promises Active Role in Community...promotes entertainment everywhere on any device

MADISON, Wis. Sonic Foundry announced Wednesday shareholder approval for the sale of the companys desktop products group for $19 million cash to Sony Pictures Digital. (SPD) The transaction is now complete and Sony Pictures Digitals Executive Vice President Patrick Kennedy has stated that it will k......

Full article >>> pportunity to offer the best possible products on the market, said Kennedy. The Madison area has demonstrated a commitment to continued development of technology-based businesses and we look forward to joining this community.

Sony Pictures Digital plans to continue support and development of its newly acquired products, ACID, Sound Forge, and Vegas Series of products. New versions of Scre......

Full article >>> sition will allow us to add new features to our current offerings. We will take the power of the software and talent that we have acquired and look at what we can enable to consumers to do. We intend to make the products (Sonic Foundrys) better and then evolve as network services evolve. Our strategy is to take the technology to make new revenue stream and new businesses, he added.


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'"/> By Mike Klein 07/31/03

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