Sonic Foundry’s Global Learning Exchange™ Launches First Hub in the Bahamas

Partnership with the Bahamas Institute of Business and Technology (BIBT) will provide local students with admissions and academic support resources.

Sonic Foundry, Inc. (NASDAQ: SOFO), the trusted leader in video capture, management and streaming solutions, today announced the official opening of its inaugural Global Learning Exchange™ (GLX) Hub in the Bahamas. Located in central Nassau, the Hub will serve as a base of operations for the GLX-Bahamas program, which will begin accepting applications for the fall semester on July 2^nd.

Global Learning Exchange™ is an innovative solution designed to provide highly motivated students around the world with life-changing education opportunities by connecting them to world-class higher education programs in a flexible, cost-effective, and locally supported environment. “The disruptive model that we’re introducing with Global Learning Exchange™ will help to democratize education and economic mobility on a global scale by connecting learners with the academic content and, more importantly, the support community that can help them achieve their career goals,” explained Sonic Foundry CEO Joe Mozden, Jr. “It will also support growth and development in emerging markets by enabling students and even mid-career workers to access world-class education opportunities while remaining rooted in their local communities.”

The GLX-Bahamas Hub, which will operate in partnership with the Bahamas Institute of Business and Technology (BIBT), will provide Bahamian students with an unprecedented level of support relative to other online learning solutions. Prospective students will have access to in-person admissions and application assistance. For enrolled students, the Hub will offer a positive study environment, reliable Wi-Fi, tutoring and academic support, and career development resources, while also serving as a host venue for social and collaborative learning activities.

“Together we are making a significant impact on the future of our youth and our country by providing world-class, affordable online educational opportunities in a local environment with all of the necessary study support and resources,” said BIBT President, Dr. Deswell Forbes. “This is a significant step towards enabling Bahamians to succeed personally and professionally at every conceivable level nationally and internationally.”

Global Learning Exchange™ has developed partnerships that will enable it to provide students with a wide variety of public and private university choices from around the world. As of today, the company has memoranda of understanding in place with eleven universities in the US and UK, two non-degree skills and training providers, and is anticipating that at least six partner universities will have finalized program offerings in place for the Bahamas program by the traditional fall semester start dates.

To celebrate the launch of the Bahamas Hub, representatives from Sonic Foundry and Global Learning Exchange™, BIBT, the Bahamas Ministry of State for Education, and others will be onsite for a ribbon cutting ceremony on Friday, July 1 (12:00-2:00pm ET). The Hub will hold its Grand Opening on Saturday, July 2 (10:00am-4:00pm ET). This event is open to the public and will include an information session, tours of the facility, and a live radio broadcast. Additional information and event registration for the Grand Opening is available here.

In the months ahead, Global Learning Exchange™ will focus on partner-led facility development projects in several emerging markets around the world where, despite the recent proliferation of online education programs, millions of students lack practicable access to higher education. GLX is currently in discussion with potential Hub partners in Latin America, Eastern Europe, Sub-Saharan Africa, and Southeast Asia.

Additional information on Global Learning Exchange™ can be accessed here.

About Sonic Foundry

Sonic Foundry (NASDAQ: SOFO) is the global leader for video capture, management and streaming solutions as well as virtual and hybrid events. Trusted by thousands of educational institutions, corporations, health organizations and government entities in over 65 countries, Sonic Foundry’s solutions include Mediasite®, Mediasite Connect, Vidable™ and Global Learning Exchange™. Learn more at www.sonicfoundry.com.

© 2022 Sonic Foundry, Inc. Product and service names mentioned herein are the trademarks of Sonic Foundry, Inc. or their respective owners.

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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.

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