Qumu jumps on Enghouse buyout offer

Enghouse Systems

19/12/2022 12:51

** Shares of software company Qumu Corp  QUMU.O  nearly
double in value in premarket trading, up 98.89% at $0.87
    ** Canadian company Enghouse Systems Ltd  ENGH.TO  to
acquire QUMU for a total equity value of approx $18 mln
    ** ENGH will commence a tender offer for all QUMU
outstanding shares at $0.90/shr in cash
    ** Purchase price represents about 105% premium to QUMU's
last closing price of $0.44 on Dec. 16
    ** Deal expected to close by February 2023 
    ** Up to last close, shares of Qumu down 79.2% YTD 
 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))