Concurrent (CCUR) reports that it has closed the previously-announced sale of its content delivery and storage business to Vecima Networks Inc. for $29 million (€24.10 million) in cash.
Effective immediately, the company has changed its name to CCUR Holdings, Inc. The firm will continue to trade on the NASDAQ market under the symbol “CCUR” and has launched a new website.
CCUR Holdings has now divested its Linux and real-time business as well as its content delivery and storage business. The company says it is “is in the process of evaluating opportunities intended to maximise the value of its remaining assets, which consists primarily of cash and cash equivalents.”
This will reportedly include the evaluation of opportunities to invest in or acquire one or more operating businesses to provide appreciation in value, thereby enhancing the Company`s liquidity.
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