180 Degree Capital Corp., a Montclair-based investment firm, announced on Tuesday its portfolio company, Synacor Inc., will combine with Qumu Corp. an Enterprise Video as a Service platform, in an all-stock transaction.
According to Synacor, the new company will have more than $120 million in annual revenue, including $70 million in software revenue and $50 million in Synacor’s portal and advertising business.
Once the deal has closed, Synacor stockholders are expected to own approximately 64.4% of the stock of the combined company and Qumu shareholders will own about 35.6%.
The deal is anticipated to close mid-2020. Financial terms were not disclosed.
