BRC agrees cash-and-stock purchase of Sangoma at $204 million enterprise value

BRC Group Holdings ($RILY) has agreed to acquire Sangoma ($SANG) Technologies in a transaction valuing the communications provider at approximately $204 million including debt. Each Sangoma share would receive $4.925 in cash and 0.04767 BRC shares. Using BRC’s stated reference price, the package was worth $5.225 per Sangoma share, a roughly 47% premium to Sangoma’s Toronto closing price.

Both boards approved the agreement, and Sangoma directors and officers holding about 27% of its shares signed voting-support commitments. The combination would add Sangoma’s on-premises, cloud and hybrid communications platform to BRC Telecom. Completion still depends on shareholder, court and regulatory approvals and other conditions. The stock component can fluctuate in value, so the quoted package value is not an assured cash payout.

Sources:

• Joint issuer release via Business Wire
• Accessible timestamped issuer-release reproduction