Concurrent Stockholders Approve Proposal to Sell Content Delivery & Storage Business to Vecima Networks

  • Asset Management
  • 14.12.2017 08:46 am

The stockholders of Concurrent, a global leader in storage, protection, transformation, and delivery of visual media assets, have approved all proposals presented at a special meeting of its stockholders held on December 13, 2017.  The proposals related to the sale of Concurrent's content delivery and storage business to Vecima Networks Inc. (TSX:VCM). 

Derek Elder, President and CEO of Concurrent, commented, "The Board of Directors and our management team appreciate the overwhelming support of our proposals from Concurrent's stockholders.  We expect to close the announced transaction with Vecima Networks by the end of the calendar year.  The investment committee established by the Board of Directors will continue to evaluate options to maximize the value of the Company's remaining assets after the close of the sale to Vecima."

The specific voting results for each of the proposals considered at the special stockholder's meeting are provided in Form 8-K filed by Concurrent on December 13, 2017.

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