MINNEAPOLIS (AP) -- CD and DVD production company Rimage Corp. said Monday that it will change its name to Qumu Corp. to reflect a focus on video content.
The change will take effect in the third quarter of 2013.
Rimage makes machines that can mass-produce and label CDs and DVDs. Sales have dropped in four of the past five years. It bought Qumu in late 2011 to enter the corporate video production market. Revenue from Qumu's enterprise software business is expected to grow by more than 50 percent this year, the company said.
Rimage will remain a product brand for the company's CD, DVD and Blu-ray publishing equipment.
Rimage shares fell 22 cents, or 2.8 percent, to $7.80 in morning trading.
- Investment & Company Information