Sonic Foundry shares are trading higher after the company announced its Vidable business, which offers AI-powered analytics for video, will team up with its Video Solutions business to develop an offering focused on supporting the events market.
Portfolio Pulse from Benzinga Newsdesk
Sonic Foundry announced that its Vidable business, an AI-powered analytics for video, will collaborate with its Video Solutions business to develop a product for the events market. This news led to an increase in Sonic Foundry's share price.
June 15, 2023 | 1:07 pm
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Sonic Foundry's shares are trading higher after announcing a collaboration between its Vidable and Video Solutions businesses to develop an AI-powered offering for the events market.
The collaboration between Sonic Foundry's Vidable and Video Solutions businesses is expected to create a new product for the events market, which could potentially increase the company's revenue and market share. This news has led to an increase in Sonic Foundry's share price, indicating a positive short-term impact on the stock.
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