Enghouse Systems Limited (TSX: ENGH) (“Enghouse”) announced today that Cosmos Merger Sub, Inc., an indirect wholly-owned subsidiary, has begun the previously announced public offering of all outstanding common shares of Qumu Corporation (“Qumu”) (Nasdaq: QUMU) at a price of $0.90 per share in cash, for a total equity value of roughly $18 million US dollars.
This tender offer is made in accordance with the merger agreement and plan between Enghouse Interactive, Inc., Cosmos Merger Sub, Inc., and Qumu, dated December 17, 2022 (the “Merger Agreement”), which was announced by Enghouse and Qumu on December 19, 2022.
The Board of Directors of Qumu has unanimously decided that accepting the offer and selling shares is in the best interests of Qumu shareholders and that the offer is fair.
According to the merger agreement, the tender offer will terminate at 11:59 p.m.
A number of shareholders, including Qumu’s board of directors and executives, have signed agreements promising to sell all of their Qumu shares in the tender offer of purchase with Enghouse.

Source: Prnewswire