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Stock Market & Financial Investment News

News Breaks
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.
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