Synacor and Qumu Agree to Merger, Creating Global Leader in SaaS-Based Collaboration Software
SYNACOR INC (SYNC)
Last synacor inc earnings: 11/14 04:05 pm
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Source: Business Wire
All-Stock Transaction to Enhance Financial Scale; Estimated $70 Million of Software Revenue with $50 Million RecurringProvides Strategic Opportunities to Accelerate Revenue Growth, Increase Operating Efficiencies and Open New Sales Channels BUFFALO, N.Y. & MINNEAPOLIS--(BUSINESS WIRE)--Synacor, Inc. (Nasdaq: SYNC), a cloud-based software and services company serving global video, internet and communications providers, device manufacturers, governments and enterprises, and Qumu Corporation (Nasdaq: QUMU) a leading provider of tools to create, manage, secure, distribute and measure the success of live and on-demand video for the enterprise, today announced plans to combine in an all-stock transaction.Merger Rationale and HighlightsStrategic Collaboration product fit that brings together Qumu’s Enterprise Video platform with Synacor’s Cloud ID Identity & Access Management platform, and the Zimbra Email & Collaboration platform.Improves operating scale and strengthens global presence
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