Rosetta Stone Inc. and Japanese software publisher Sourcenext announced a strategic partnership through which Sourcenext has been granted a perpetual, exclusive license to sell and develop language and education products 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 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 a commercial sales relationship with Sourcenext in June, 2016.
“We’re excited about the opportunity to exclusively represent and expand the Rosetta Stone brand in Japan,” said Sourcenext CEO Noriyuki Matsuda.
“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 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 10 years.