- Sangoma Technologies Corporation (TSX:STC) has acquired NetFortris Corporation
- NetFortris provides unified communications as a service (UCaaS)
- The upfront consideration of US$68 million was satisfied through a combination of cash and Sangoma common shares
- Sangoma Technologies is a leader in delivering value-based communications as a service
- Sangoma Technologies Corporation (STC) ended the day up 3.64 per cent at $16.80 per share
Sangoma Technologies Corporation (STC) has acquired NetFortris Corporation.
NetFortris provides unified communications as a service (UCaaS) and cloud-based, fully managed MSP (managed service provider) solutions for businesses of all sizes and across all industries.
Sangoma has acquired NetFortris for US$68 million upfront and up to US$12 million in an ‘Earn-out’ for total consideration of up to US$80 million, if the contingent consideration is fully earned.
The transaction is now closed.
“A critical part of our existing strategy, and of our competitive differentiation, involves providing customers with the widest set of cloud communications services in our industry, avoiding the need for them to buy five different services from five different vendors,” said Bill Wignall, President and CEO of Sangoma.
“This truly is ‘one-stop shopping’ for our customers, and it taps into that very important new trend that so many of us in the industry see starting to emerge,” he added.
The upfront consideration of USD $68 million was satisfied through a combination of cash and Sangoma common shares. The upfront cash amount was USD $48.8 million and the upfront equity amount was USD $19.2 million.
Based upon the fixed, upfront portion of the purchase price, the implied valuation is approximately 1.3x expected annualized revenue.
Sangoma Technologies is a leader in delivering value-based communications as a service (CaaS) solutions for businesses of all sizes.
Sangoma Technologies Corporation (STC) ended the day up 3.64 per cent at $16.80 per share.