Rimage Closing Large Transaction With Qumu

Rimage Corporation announced
that Qumu, Inc. has partnered with one of its MSPs to close a multi-year,
multi-million dollar contract with a Fortune 50 corporation.

This is the largest single transaction in Qumu’s history.

"The successful closing
of this transaction represents a major milestone in the company’s
transformation and is a significant accomplishment for Qumu," said
Sherman Black, president and CEO of Rimage. "This key win was enabled by the ease of integration of Qumu’s
enterprise video solution into the customer’s complex environment and the
customer’s confidence that our solution will scale secure delivery of video
content to PCs and tablets over varying bandwidth networks simultaneously."

Second quarter Qumu contracted commitments are now expected to be
more than $6 million, an increase of more than $4 million from first quarter
2012 levels. The company defines contracted commitments as the dollar value of
signed customer purchase commitments.

The Qumu transaction does not affect the
company’s financial guidance for 2Q12.