Enghouse Systems commences 90c per share offer for Qumu

Enghouse Systems announced that its indirect wholly-owned subsidiary, Cosmos Merger Sub, Inc., has commenced its previously announced tender offer for all outstanding shares of common stock of Qumu (QUMU) at a price of 90c per share in cash, for a total equity value of approximately $18M. The tender offer is being made in connection with the Agreement and Plan of Merger, dated as of December 17, 2022, by and among Enghouse Interactive, Inc., Cosmos Merger Sub, Inc. and Qumu, which Enghouse and Qumu announced on December 19, 2022. The Qumu board of directors has unanimously determined that the offer is fair to and in the best interests of Qumu’s shareholders and unanimously recommends that the Qumu shareholders accept the offer and tender their shares. The tender offer is scheduled to expire at one minute following 11:59 p.m., New York City time, on February 6, 2023. Certain shareholders, including the directors and executive officers of Qumu, have entered into tender and support agreements with Enghouse committing to tender all of their Qumu shares in the tender offer.