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July 1, 2014
12:45 EDTQUMUQumu closes sale of disc publishing assets
Qumu announced the closing of its previously announced all-cash sale of the Rimage disc publishing assets to Redwood Acquisition, a wholly-owned subsidiary of Equus. Redwood Acquisition is now known as Rimage. The completion of this transaction enables Qumu to focus effort and resources exclusively on the company’s video content management software business. The completion of this transaction provides Qumu with approximately $19M-$20M in net cash after closing costs, post-closing adjustments, taxes and the assumed return of the $2.3M, 15 month escrow.
News For QUMU From The Last 14 Days
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October 6, 2014
06:26 EDTQUMUQumu to host conference call
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06:06 EDTQUMUQumu sees FY15 revenue growth to exceed 60%, one estimate $34.63M
Qumu expects that the scale benefits from this increased revenue growth will be a key driver for increasing 2015 gross margins to closer to 60%. The company expects to end 2015 with cash and marketable securities of $20M-$25 million. The Kulu Valley acquisition is expected to be cash flow accretive to Qumu’s 2015 financial results and the company expects to be cash flow break even in 2016.
06:05 EDTQUMUQumu backs FY14 annual software contract commitments to grow more than 50%
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06:04 EDTQUMUQumu acquires Kulu Valley for $15M
Qumu announced the acquisition of Kulu Valley, a provider of video content creation solutions based in the United Kingdom. Kulu Valley provides its software solutions to more than 80 customers, primarily in Europe, and generated $5.5M in profitable revenue for the 12 months ended June 30, 2014. The transaction was completed on October 3, 2014 and is valued at approximately $15M, comprised of approximately $11.5M of net cash and 275,000 shares of Qumu stock. The amount of revenue the acquisition will contribute to Qumu’s fourth quarter 2014 is dependent on the deferred revenue purchase accounting assessment which is still in progress. The company will also be completing a purchase price valuation during the fourth quarter to determine how much of the purchase price will be allocated to goodwill and acquisition intangibles.

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