Monday, October 10, 2011

Qumu Acquired By Rimage

San Bruno-based Qumu, a provider of enterprise video communications software, has been acquired by DVD publishing firm Rimage Corporation, in a deal worth $52M. According to Rimage, it wil pay $39M in cash plus one million shares of its common stock for Qumu. Rimage said the buy would give it significant opportunities for growth in 2012. Qumu's services are used to manage and distribute enterprise video content. Rimage said that Qumu had $10.3M in revenue in 2010, and is on track to generate approximately $15M in 2011. Qumu had been venture backed by Advancated Technology Ventures, Angels Forum, Garage Technology Ventures, Halo Fund, SAP Ventures, and Storm Ventures.