Video Tech / Measurement Specialist Qumu to be Acquired

In the US, video technology provider and measurement specialist Qumu is to be acquired by enterprise software firm Enghouse Systems, for approximately $18m.

Qumu develops tools to create, manage and measure the success of live and asynchronous streaming video and video on demand (VOD) for the enterprise. The firm's advanced analytics feature enables clients to analyze and display real-time network and usage data, providing them with visibility into employee engagement and overall end-user experience.

Under the merger agreement, a wholly owned subsidiary of Enghouse will commence a tender offer for all the shares of common stock of Qumu followed by a merger to acquire any untendered shares, all at the price of $0.90 per share in cash. Steve Sadler, Chairman and CEO at Enghouse, said that the combination of Qumu's video creation, management and delivery solutions with Enghouse's video collaboration and streaming products 'strengthens the position of both companies in a competitive space'.

Rose Bentley (pictured), Qumu's President and CEO, comments: 'Just as we embraced video as the future of work, this merger gives Qumu the opportunity to enhance our product innovation and the quality of our service and support. We are excited about the transaction.'

Web sites: www.enghouse.com and www.qumu.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.