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Concurrent Files Definitive Proxy Statement for Proposed Sale of Content Delivery & Storage Business to Vecima Networks; Files Form 10Q Reporting Fiscal 2018 First Quarter Financial Results

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ATLANTA, Nov. 13, 2017 (GLOBE NEWSWIRE) -- Concurrent (NASDAQ:CCUR), a global leader in storage, protection, transformation, and delivery of visual media assets, filed a definitive proxy statement on November 6, 2017 with the Securities and Exchange Commission (SEC) in connection with the Asset Purchase Agreement dated as of October 13, 2017 between Concurrent, as seller, and Vecima Networks Inc. (TSX:VCM), as purchaser.  Concurrent's special meeting of stockholders to vote on the proposed Asset Purchase Agreement and other matters will be held December 13, 2017 at 9:00 AM ET.  The meeting will be held at 4375 River Green Parkway, Suite 100, Duluth, Georgia 30096.  All Concurrent stockholders of record as of the close of business on November 3, 2017 will be entitled to vote their shares at the special meeting, either in person or by proxy.

In addition, Concurrent reported today it has filed its Form 10Q reporting the results for the first quarter of fiscal 2018.

About Concurrent

Concurrent (NASDAQ:CCUR) is a global company that develops software solutions focused on storing, protecting, transforming, and delivering visual media assets. We serve industries and customers that demand uncompromising performance, reliability and flexibility to gain a competitive edge, drive meaningful growth and confidently deliver best-in-class solutions that enrich the lives of millions of people around the world every day.  Offices are located in North America, Europe and  Asia.  Visit www.concurrent.com for further information and follow us on Twitter: www.twitter.com/Concurrent_CCUR.

Forward Looking Statements

Certain statements in this communication and the documents referenced herein constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by words such as "anticipate," "believe," "intend," "estimate," "expect," "see," "continue," "could," "can," "may," "will," "likely," "depend," "should," "would," "plan," "predict," "target," and similar expressions, and may include references to assumptions and relate to Concurrent's future prospects, developments and business strategies. Except for the historical information contained herein, the matters discussed in this communication are forward-looking statements that involve risks and uncertainties that may cause Concurrent's actual results to be materially different from such forward-looking statements and could materially adversely affect its business, financial condition, operating results and cash flows. These risks and uncertainties include the occurrence of any event, change or other circumstances that could give rise to the termination of the Asset Purchase Agreement; the failure to obtain the approval of Concurrent's stockholders or required third party consents or the failure to satisfy any of the other closing conditions to the Asset Purchase Agreement; potential disruption of management's attention from Concurrent's ongoing business operations due to the transaction; the effect of the announcement of the Asset Purchase Agreement on the ability of Concurrent to retain and hire key personnel and maintain relationships with its customers, suppliers and others with whom it does business, or on its operating results and business generally; general business conditions; changes in overall economic conditions that impact consumer spending; the impact of competition; and other factors which are often beyond the control of Concurrent, as well other risks listed in the definitive proxy statement filed on November 6, 2017 or Concurrent's Form 10-K filed September 20, 2017 with the Securities and Exchange Commission and risks and uncertainties not presently known to Concurrent or that Concurrent currently deems immaterial. Concurrent wishes to caution you that you should not place undue reliance on such forward-looking statements, which speak only as of the date on which they were made. Concurrent does not undertake any obligation to update forward-looking statements, except as required by law.

Media Relations:
Sandra Dover
(678) 258-4112
Sandra.dover@concurrent.com

Investor Relations:
Doug Sherk
(415) 652-9100
dsherk@evcgroup.com

Todd Kehrli
(310) 625-4462
tkehrli@evcgroup.com

 
 



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Concurrent Computer Corporation via Globenewswire

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