Cloud-based software and services company serving internet, global video and communication providers, as well as device manufacturers, governments, and enterprises, Synacor, recently announced a new merger. The merger is with Qumu, a leading provider of tools for the management, creation, security, and distribution of live and on-demand video solutions.
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Vern Hanzlik[/caption]
CEO of Qumu, Vern Hanzlik, noted that he is excited to be working with a company that serves some of the world’s largest providers for global video, internet, and communication solutions, including T-Mobile, CenturyLink, and HBO. The merger between Synacor and Qumu will allow Qumu to extend the use of its video platform to a much wider audience, through Synacor’s enterprise clients and partners. The union will also allow Qumu to become a part of a more comprehensive suite for collaboration, which already serves more than 500 million end-users around the world.
Achieving Exceptional Market Reach
The collaboration between Synacor and Qumu will bring together a state-of-the-art cloud ID identity and access management platform, with enterprise-level video technology. Together, both Synacor and Qumu will achieve an enhanced operating scale and improved global presence, with the resulting company expected to generate over $120 million in annual revenue.
According to Vern, at this time, there’s nobody else in the Enterprise Video space that has the same amount of market reach. This merger allows Qumu customers to benefit immensely from a much broader footprint, and greater financial strength.
