Sony Pictures Digital acquires Sonic Foundry desktop app assets

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Sony Pictures Digital acquires Sonic Foundry desktop app assets
By Kate Kaye
2003-05-28

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Agreement comes on the heels of the retail release of Sony’s digital video software, Screenblast Movie Studio.

Sony Pictures Digital has acquired the desktop software assets of Madison, Wisc.-based Sonic Foundry. The agreement comes on the heels of the retail release of Sony’s digital video software, Screenblast Movie Studio, and continues the company’s efforts in the rich media consumer entertainment arena.

Through the $18 million cash deal, Sony Pictures Digital will attain Sonic Foundry's Sound Forge sound editing software; Vegas, its multitrack audio and video editing system; and ACID, a loop-based tool used to produce royalty-free music; along with related products.

Sonic Foundry will use proceeds from the sale towards debt relief, and to fund operations for its live and on demand Web presentation product, MediaSite Live. According to current plans, Sonic Foundry will maintain its Wisconsin headquarters.

Also under the Sony Pictures Digital Networks umbrella are online soap opera entertainment destination SoapCity; video and audio editing software, Screenblast; its U.K. interactive TV service, GoPlayTV; and mobile and wireless services.

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