Enghouse Completes Acquisition of Mediasite
MARKHAM, ON and MADISON, Wis., Feb. 12, 2024
Enghouse Expands Footprint in Japan and Penetration of Education & Event Markets
MARKHAM, ON and MADISON, Wis., Feb. 12, 2024 /PRNewswire/ - Enghouse Systems Limited (TSX: ENGH) today announced it has successfully completed its acquisition of the Mediasite SaaS video recording and streaming business from Sonic Foundry, Inc. (OTC: SOFO).
The acquisition was completed under the terms of a previously announced agreement dated January 4, 2024. The addition of Mediasite expands Enghouse's footprint in the Japanese market and suite of SaaS video software solutions. It will also increase Enghouse's penetration of the education and event enterprise sectors.
Mediasite will be integrated with Enghouse's Interactive Management Group, which includes its video products. Mediasite's comprehensive product suite includes video recording, streaming and event enterprise solutions. These products have been deployed internationally, with a strong focus on private corporations, educational and health care organizations and government entities.
"Mediasite's powerful event video recording solution complements our enterprise video suite of products and allows us to increase our presence in the Japanese market," said Steve Sadler, Chairman and CEO of Enghouse. "This acquisition also strengthens our video product offering in the education and event sectors. We are very pleased to welcome Mediasite's customers, employees and partners to Enghouse."
"Enghouse's expertise in complementary video communication solutions makes it ideal to acquire the Mediasite business," said Sonic Foundry's Joe Mozden, Jr. "Enghouse is well positioned to expand that business and serve the needs of our long-term customer base."
Enghouse Systems Ltd. is a Canadian publicly traded company (TSX:ENGH) that provides vertically focused enterprise software solutions focusing on contact centers, video communications, healthcare, telecommunications, public safety and the transit market. Enghouse has a two-pronged growth strategy that focuses on internal growth and acquisitions, which are funded through operating cash flows. The company has no external debt financing and is organized around two business segments: the Interactive Management Group and the Asset Management Group. For more information, please visit www.enghouse.com.
SOURCE Enghouse Systems Limited