Qumu Receives $1 Million in Qumu Cloud License Fees from iStudy Co., Ltd.
Qumu Corporation (QUMU)
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Source: Business Wire
iStudy, a leader in enterprise learning management systems, extends its agreement to sell Qumu Cloud services in Asia-Pac market MINNEAPOLIS--(BUSINESS WIRE)-- Qumu (NASDAQ: QUMU), the leading provider of best-in-class video technology for the enterprise, announced that iStudy Co., Ltd., Qumu’s sales partner in Japan, has agreed to pay Qumu $1 million in non-refundable Qumu Cloud license fees, with $500,000 due on May 30, 2018 and $500,000 due on September 1, 2018. The agreement further expands the strategic relationship between the companies, guarantees iStudy the services necessary to support its rapidly growing base of Qumu Cloud customers, and injects cash into Qumu’s operations. “This agreement with our exclusive channel partner in Japan is a direct reflection of the Qumu platform’s success and popularity in the Asia-Pac market,” said Vern Hanzlik, President and CEO of Qumu. “With their deep
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