Qumu Corp. To Be Bought By Enghouse Systems For Around $18 Mln Cash

(RTTNews) - Qumu Corporation (QUMU), a provider of cloud-based enterprise video technology, and Enghouse Systems Ltd. (ENGH), a Canadian enterprise software solutions firm, said on Monday that it agreed to be acquired by Enghouse for around $18 million in cash.

A newly formed wholly owned arm of Enghouse will start a tender offer to purchase all shares of Qumu for $0.90 per share in cash, a premium of around 105 percent over the $0.44 per share, the closing price of Qumu share on December 16.

The transaction is expected to be completed in February 2023. .

Neil Cox, Chairman, Qumu Board, said: "The Qumu board is committed to maximizing shareholder value and has unanimously approved the transaction with Enghouse. We believe this transaction will deliver excellent value to our shareholders."