Earlier today, Cosmos Merger Sub, Inc., an indirect wholly-owned subsidiary of Enghouse Systems Limited (TSX: ENGH) (“Enghouse”), announced that it had successfully completed its previously announced offer to purchase all of the outstanding shares of common stock of Qumu Corporation (“Qumu”) (Nasdaq: QUMU) at a price of $0.90 per share in cash, for a total equity value of roughly $18.0 million.
The tender offer is being made in connection with the agreement and proposed merger (the “Merger Agreement”) dated December 17, 2022, between Enghouse Inter Active, Inc., Cosmos Merger Sub, Inc., and Qumu, effective as of December 19, 2022, as announced by Enghouse and Qumu.
The Qumu Board of Directors unanimously agrees that accepting the Offer and redeeming shares is in the best interests of Qumu shareholders and has determined that the Offer is reasonable and in their interests.
The Offering terminates on February 6, 2023, at 11:59 p.m. New York time (date may be extended from time to time by Cosmos Merger Sub, Inc. in accordance with the Merger Agreement, the “Expiry Date”).

Source: Prnewswire