Enghouse Systems Commences Tender Offer for Qumu Corporation

Enghouse Systems Limited (TSX: ENGH) (“Enghouse”) today 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 Corporation (“Qumu”) (Nasdaq: QUMU) at a price of US$0.90 per share in cash, for a total equity value of approximately US$18.0 million.

The tender offer is being made in connection with the Agreement and Plan of Merger, dated as of December 17, 2022 (the “Merger Agreement”), 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 (such date, as it may be extended by Cosmos Merger Sub, Inc. from time to time in accordance with the Merger Agreement, the “Expiration Time”).