Sony streamlines business; offloads creative software products

Magix has snapped up products including Vegas Pro and Movie Studio.

Sony continues to streamline its business by offloading part of the Creative designing and editing range.

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On Tuesday, Magix Software GmbH said the firm has acquired the "majority" of the Sony Creative Software (SCS) product range.

In a press release, Magix said it now has purchased the full Sony Vegas Pro, Movie Studio, Sound Forge Pro, and ACID Pro product lines.

Financial terms were not disclosed.

The German software and app provider provides designing, editing and presentation software for both private and business users, and says the acquisition of SCS products will improve the firm's position across other markets, including the United States.

Magix CEO Klaus Schmidt commented:

"These products from Sony Creative Software are the perfect addition to our portfolio. We have already strengthened our presence in the United States in order to propel development and sales.

This autumn, we plan to release new versions of the video-editing programs Vegas Pro and Movie Studio, which are heavily oriented toward the customer requirements of today."

Over the past few years, Sony launched itself down the path of a major restructuring effort in the wake of increased competition, poor sales and a weak Japanese yen. Last year, the company finally returned to profit despite a slowdown in sales after turning away from the smartphone industry and focusing on image sensor products, gaming and home entertainment.

The Japanese firm has sold a number of assets, including its Vaio personal computer business and a stake in game maker Square Enix. However, after the offload of unprofitable business units and job cuts, the company does appear to be recovering its footing -- and the sale of the SCS product range is part of this transformation.

Sony may not be focusing as much on imaging software anymore but is certainly interested in pursuing new revenue streams including virtual reality technology and artificial intelligence. In May, the company pledged to invest in Cogitai, a California-based startup focusing on building AI systems which learn from experience.

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