Synacor to merge with Qumu in a $20m deal.

Synacor, a cloud-based software and services company, agreed to merge with Qumu, a provider of tools to create, manage, secure, distribute, and measure the success of live and on-demand videos, in a $20m deal. The merger, which is expected to close in mid-2020, creates a global SaaS-based collaboration software-focused business with significant operational synergies and cross-selling opportunities. Synacor stockholders are expected to own c. 64.4% and Qumu shareholders are expected to hold c. 35.6% of the stock of the combined company. “With Synacor having an extensive network of more than 1.9k distribution partners and an established base of more than 4k customers, the merger will immediately accelerate our go-to-market efforts. As the demand for enterprise collaboration solutions continues to expand, we believe there will be a significant opportunity for us to position a combined email, video and identity offering to reach a much wider cross-section of the enterprise market with a scalable, highly secure and extensible solution for cloud-based and hybrid deployments,” Vern Hanzlik, Qumu President, and CEO.