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Enghouse Systems to buy Qumu for $18 million



(Markham) Enghouse Systems has signed an agreement to buy Qumu, a cloud-based enterprise video technology provider, for US$18 million.

Under the terms of the agreement, Enghouse will pay 90 US cents per share in cash for the company.

Shares of Qumu closed at 44 US cents on Friday.

Enghouse President and CEO Steve Sadler said the combination of Qumu’s video creation, management and delivery offerings with Enghouse’s video collaboration and delivery products strengthens the position of both companies.

Qumu’s board of directors, officers and certain shareholders have signed support agreements with Enghouse committing to tender all of their Qumu shares to the offer.

The agreement, which is subject to customary closing and other conditions, is expected to close in February 2023.

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