Enghouse Systems to Buy Qumu Corporation

Enghouse Systems

Enghouse Systems (TSX: ENGH), a Markham, Canada-based global provider of enterprise software solutions, intends to acquire Qumu Corporation (Nasdaq: QUMU), a Minneapolis, MN-based provider of cloud-based enterprise video technology.

Under the terms of the agreement, Enghouse will commence a tender offer for all outstanding shares of Qumu for US$0.90 per share in cash, for a total equity value of approximately US$18.0m. The merger agreement transaction is expected to be closed in February 2023.

With the acquisition Enghouse Systems will expand its offers.

Led by CEO Rose Bentley, Qumu is a provider of tools to create, control, deliver, experience and analyze live and asynchronous video at scale. The software enables globally distributed organizations to drive employee, customer, and partner engagement, modernizing business by providing effective ways to communicate and collaborate.

Led by CEO Steve Sadler, Enghouse Systems is a publicly traded company that provides vertically focused enterprise software solutions focusing on contact centers, video communications, healthcare, telecommunications, public safety and the transit market. The company has no external debt financing and is organized around two business segments: the Interactive Management Group and the Asset Management Group.

FinSMEs

21/12/2022