High Growth Software Business Now Sole Focus
Transaction Adds Significant Cash to Qumu’s Balance Sheet
“Today marks a milestone in Qumu’s transformation into a high growth software company with video solutions that are considered best of class by our customers and independent industry analysts,” said
The completion of this transaction provides
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” or “estimate” or comparable terminology are intended to identify forward-looking statements. Actual results might differ materially from those stated or implied by such forward-looking statements due to risks and uncertainties associated with the transaction and the Company’s business, including the risk that the escrowed funds are subject to reduction to satisfy indemnification claims under the purchase agreement; the effects of disruption from the transaction, making it more difficult to maintain relationships with employees, customers, suppliers and other business partners of our software business; risks related to Qumu’s ability to operate its retained software business; the challenges associated with transitioning the software business and disc publishing business to separate, stand alone operations following closing; and the factors discussed in the Company’s Annual Report on Form 10-K for the year ended
Equus is proud to be one of America’s largest computing system manufacturers. Since 1989, Equus has delivered more than three million build-to-order and ready-to-ship computing systems through its reseller channel and Serversdirect.com web store. Equus has prospered because of its ability to boost efficiencies, adopt the latest technologies, and provide the highest quality solutions. As an experienced ISO 9001-certified systems builder, Equus continues to be a trusted and valued partner to solution providers by offering high-quality IT solutions combined with consistent and efficient delivery and service. By anticipating technology trends, Equus helps it customers prepare for market changes and new opportunities.
Vice President, Marketing Services
Equus Corporate Services