Rimage Acquires Qumu for Enterprise Video

Rimage signs definitive agreement for acquisition of Qumu

October 11, 2011

1 Min Read

MINNEAPOLIS -- RimageCorporation, the industry-leading provider of on-demand CD/DVD/Blu-ray Disc(TM) publishing systems, today announced that it has signed a definitive agreement for the acquisition of Qumu, Inc., the leader in enterprise video communications. The acquisition provides Rimage with a strong presence in the rapidly growing video communications market with an established partner, serving 100 Global 1000 customers and generating strong revenue growth. Thepurchase price totals $52 million, consisting of $39 million in cash and one million shares of Rimage common stock. The transaction is not subject to any regulatory conditions or shareholder approvals and is anticipated to close within 24 hours.

"Qumu is a cornerstone acquisition for Rimage and immediately positions us as a leader in the growing market for video communications and social enterpriseapplications for business," said Sherman Black, president and chief executive officer of Rimage Corporation. "The Qumu acquisition accelerates Rimage's strategy to distribute live, on-demand, downloaded and optical media content for a broad range of applications, on any mobile or desktop device.This acquisition significantly expands our market to new enterprise customers and offers opportunities for cross-selling to the installed base of customers of both Rimage and Qumu."

Rimage Corp.

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