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Rosetta Stone and SOURCENEXT Announce Strategic Partnership in JapanArlington, VA, March 14, 2017 (GLOBE NEWSWIRE) -- Rosetta Stone Inc. (NYSE: RST), a world leader in digital language learning, and SOURCENEXT (TYO: 4344), Japan’s market-leading software publisher and distributor, today announced a strategic partnership through which SOURCENEXT has been granted a perpetual, exclusive license to sell and develop language and education products and services in Japan using the Rosetta Stone brand and trademark. As part of the agreement, Rosetta Stone will have first rights to license products developed by SOURCENEXT under the Rosetta Stone brand and trademark for resale in territories outside of Japan. “We have developed a strong relationship with SOURCENEXT over the last year and I am confident they bring the technical and local marketing expertise to best serve the Japanese language and education markets,” said Rosetta Stone’s President and CEO John Hass. “I am also excited by the opportunities created by SOURCENEXT’s future product development efforts, both for their customers in Japan, and appropriate audiences we could bring products to elsewhere in the world.” Rosetta Stone entered into a commercial sales relationship with SOURCENEXT in June, 2016, demonstrating the need for language learning in Japan. Led by founder and CEO Noriyuki Matsuda, SOURCENEXT has partnered with various global companies including Dropbox, Evernote, Bitdefender, and Magix to adapt and bring a broad range of world-class products to the Japanese marketplace, with a full-service program to drive ongoing profitability – including UI localization, domestic customer support, merchandising, marketing, and more. “As a pioneer and global leader in language learning, students, world travelers, business users, and consumers, alike, from around the globe all recognize the Rosetta Stone brand in an instant. We’re excited about the opportunity to exclusively represent and expand the Rosetta Stone brand in Japan,” said Noriyuki Matsuda, founder and CEO of SOURCENEXT. “Through this collaboration, we will leverage our 20 years of expertise to deliver new language learning and education solutions that are customized and compelling for Japanese consumers and enterprises.” In return for granting the perpetual, exclusive license to the Rosetta Stone brand and trademarks in Japan and the transfer of certain technologies, SOURCENEXT will pay Rosetta Stone $13.5 million, before certain adjustments, with an additional $6 million to be paid over the next ten years. Rosetta Stone’s globally recognzed products have helped millions of people learn a new language at home, in schools and in the workplace for more than 25 years. The Company pioneered the use of technology to accelerate language learning and is committed to the continued innovation of its products. For more information on Rosetta Stone, visit www.rosettastone.com and the investor relations section of our website. More information about SOURCENEXT can be found on its website at www.sourcenext.com/us/. Rosetta Stone’s Caution on Forward-Looking Statements About Rosetta Stone 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. About SOURCENEXT
Investor Contacts: Frank Milano, Rosetta Stone [email protected] Asuka Kanai, SOURCENEXT Corporation [email protected] Media Contacts: Michelle Alvarez, Rosetta Stone [email protected] Sarah Lunny, SOURCENEXT [email protected] |