TOKYO, April 26, 2017 /PRNewswire/ -- SOURCENEXT (TYO:
4344), Japan's market-leading
software publisher and distributor, announced today an expanded
partnership with Rosetta Stone (NYSE:RST), a world leader in
technology-based learning solutions. Based on the positive
reception to their initial partnership announced in March,
SOURCENEXT has entered into an agreement to pursue the acquisition
of Rosetta Stone's Japanese entity, in order to accelerate plans to
develop innovative applications for the Rosetta Stone brand in
Japan. Upon closing of the
transaction contemplated by this new agreement, SOURCENEXT will not
only promote and distribute existing language learning software for
the Japanese marketplace, but also act as an additional innovation
hub for Rosetta Stone products. This will allow SOURCENEXT to
utilize its renowned technology expertise and design savvy to build
technologies such as artificial intelligence (AI) and speech
recognition into new language learning offerings to serve more
customer needs than ever - from youth language learning to business
communication support across devices and platforms.
"Rosetta Stone is a world-renowned brand, so the opportunity to
help them drive language innovation forward in the Japanese
marketplace is huge," said Noriyuki
Matsuda, CEO and founder of SOURCENEXT. "Japan is more globalized than ever, and we
believe we are uniquely able to provide Japanese consumers the
language learning tools they need to become citizens of the world,
as well as using our marketplace opportunity as a testing ground
for advancing the Rosetta Stone brand."
The need for technological language support is greater than ever
in Japan, with Japanese companies
hiring more global employees and the number of non-Japanese
residents increasing year over year. Furthermore, SOURCENEXT
intends to launch Rosetta Stone products for students and schools
as Japan will now require English
to be taught even earlier, beginning in fifth and sixth grades. In
addition to primary-school language learning software, SOURCENEXT
intends to help language learners prepare for various proficiency
tests through Rosetta Stone, such as the TOEFL and TOEIC, for
prospective college students and corporate employees,
respectively.
SOURCENEXT will also identify the most relevant, promising
products to add to the Rosetta Stone brand family in Japan, from artificial intelligence pocket
translators to online conversation support services, and more.
Furthermore, SOURCENEXT plans to expand the Rosetta Stone brand in
Japan beyond education software to
other products and technologies across media, services, devices,
learning programs, and online communities.
"SOURCENEXT is an ideal partner for us, eager and equipped to
quickly expand the Rosetta Stone product portfolio and sales
channels in Japan," said
John Hass, president and CEO of
Rosetta Stone. "We look forward to the potential opportunity to
apply SOURCENEXT's innovations to the global marketplace, as well,
bringing new technologies and products into other territories to
meet more language support needs than ever."
Upon closing of the transaction contemplated by this new
agreement, SOURCENEXT Corporation will pay $500,000 for the acquisition of the Rosetta Stone
Japan Inc. entity from Rosetta Stone Ltd., a Virginia, U.S.-based corporation. Under a
licensing agreement entered into by SOURCENEXT with Rosetta Stone
last month, Rosetta Stone has first rights to license products
developed by SOURCENEXT under the Rosetta Stone brand and trademark
for resale in territories outside of Japan. The SOURCENEXT license agreement
provides for Trademark Rights for the "Rosetta Stone" brand in
Japan, as well as certain rights
to make edits to the digital download products and create
derivatives.
About SOURCENEXT:
SOURCENEXT (TYO:4344), Japan's publicly traded, market-leading
software publisher and distributor, which not only plans and
develops their own products, also specializes in helping U.S. and
other foreign-based software companies launch their desktop and
mobile apps in the Japanese market and grow market share for
sustained profitability. With 20 years of software publishing
experience in Japan, SOURCENEXT
offers a unique, full-service Japanese market penetration program
for software providers. SOURCENEXT has helped companies like
Rosetta Stone, Dropbox, Bitdefender, Magix, and more, launch
successful desktop software tools and mobile apps in Japan with its deep market experience, brand
trust, top retailer relationships, and extensive distribution
network. For more, visit www.sourcenext.com/us/
About Rosetta Stone
Rosetta Stone Inc. (NYSE:
RST) is dedicated to changing people's lives through the power of
language and literacy education. The company's innovative digital
solutions drive positive learning outcomes for the inspired learner
at home or in schools and workplaces around the world.
Founded in 1992, Rosetta Stone's language division uses
cloud-based solutions to help all types of learners read, write,
and speak more than 30 languages. Lexia Learning, Rosetta Stone's
literacy education division, was founded more than 30 years
ago and is a leader in the literacy education space. Today, Lexia
helps students build fundamental reading skills through its
rigorously researched, independently evaluated, and widely
respected instruction and assessment programs.
For more information,
visit www.rosettastone.com. "Rosetta Stone" is a
registered trademark or trademark of Rosetta Stone
Ltd. in the United States and other countries.
Media Contacts: Sarah
Lunny
Resound Marketing for SOURCENEXT
Sarah@ResoundMarketing.com
+1 (609) 279-0050 x121
Michelle Alvarez
Head of Global Communications, Rosetta Stone
malvarez@rosettastone.com
1 (703) 387-5862
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SOURCE SOURCENEXT