Sangoma Technologies Corporation (“Sangoma”) (TSX: STC; NASDAQ: SANG), an industry leader in delivering cloud-based Communications-as-a-Service solutions for businesses of all sizes, was recognized by Channel Futures for the top merger and acquisition of 2021 for its acquisition of Star2Star.
Channel Futures serves the information and communication technology (ICT) industry channel, and is part of the global Informa Tech business with over 1000 subject matter experts and colleagues, including Omdia research. Channel Futures ranked the top 24 mergers and acquisitions of 2021 in the channel, placing Sangoma first. In writing about this acquisition, Raul Castanon noted, “Sangoma and Star2Star are merging in a deal worth $437 million, creating a key rival for 8x8, RingCentral, and Vonage.”
Sangoma’s acquisition stands out amongst the other M&A transactions as particularly strategic for the channel, because it now enables Sangoma’s channel partners to meet the needs of all customers, from SMB to enterprise, with the most comprehensive suite of cloud services available in the industry. Sangoma’s channel partners are then able to bring this full solution, all integrated together from a single cloud supplier, to their customers. Sangoma’s cloud suite includes Unified Communications as a Service (UCaaS), Trunking as a Service (TaaS), Contact Center as a Service (CCaaS), Communications Platform as a Service (CPaaS), Video Meetings as a Service (VMaaS), Collaboration as a Service, Desktop as a Service (DaaS), and Access Control as a Service (ACaaS).
“Customers today are demanding an integrated experience for all their cloud communications needs, not multiple tools from multiple vendors”, said Bill Wignall, CEO and President of Sangoma. “Our M&A strategy always seeks to keep that in mind and as a result, Sangoma now offers the broadest set of cloud communications solutions in the industry. We appreciate the recognition from Channel Futures, especially given the acquisition of Star2Star completes our work over recent years to transform Sangoma from a product business to one of the communications industry’s leading SaaS companies.”
In an increasingly complex world, businesses need to simplify the way they communicate, collaborate, and seamlessly integrate third-party applications into their operations and processes. Sangoma Technologies meets that need by being a trusted leader in delivering cloud-native, value-based Communications as a Service (CaaS) solutions for businesses of all sizes. Sangoma’s cloud-native solutions include a full suite of as-a-service offerings including: voice, video, persistent chat, meetings, packaged application integrations, trunking, fax, virtual desktops, contact center, access control and much more.
In addition, Sangoma offers a full line of communications products, including premise-based UC systems, a full line of desk phones and headsets, and a complete connectivity suite (gateways/SBCs/telephony cards). Sangoma is also the primary developer and sponsor of Asterisk and FreePBX, the world’s two most widely used open-source communication software projects.
Sangoma has been named to such prestigious lists as the Deloitte Enterprise Technology Fast 15, Omdia Top 10 UCaaS Service Provider, and Forbes Most Promising Companies. Recognition of its pioneering innovation in the enterprise cloud market extends to major industry analyst indicators such as being awarded the Frost and Sullivan Best Practices Unified Communications and Collaboration Competitive Strategy Leadership Award and the Gartner Magic Quadrant for UCaaS, Worldwide.
Sangoma Technologies Corporation is publicly traded on the TSXV and NASDAQ (TSX: STC; NASDAQ: SANG). Additional information on Sangoma can be found at: www.sangoma.com.
Cautionary Statement Regarding Forward Looking Statements
This press release contains forward-looking statements, including statements regarding the future success of our business, development strategies and future opportunities. Forward-looking statements include, but are not limited to, statements concerning estimates of future revenue, expected expenditures, expected future production and cash flows, and other statements which are not historical facts. When used in this document, the words such as “could”, “plan”, “estimate”, “expect”, “intend”, “may”, “potential”, “should” and similar expressions indicate forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements are based on the opinions and estimates of management on the date that the statements are made and involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other events contemplated by the forward-looking statements will not occur or will differ materially from those expected. Although Sangoma believes that the expectations represented by such forward-looking statements are reasonable based on the current business environment, there can be no assurance that such expectations will prove to be correct as these expectations are inherently subject to business, economic and competitive uncertainties and contingencies. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking statements contained in the management’s discussion and analysis include, but are not limited to changes in exchange rate between the Canadian Dollar and other currencies, the variability of sales between one reporting period and the next, changes in technology, changes in the business climate in one or more of the countries that Sangoma operates in, changes in the regulatory environment, the rate of adoption of the company’s products in new markets, the decline in the importance of the PSTN and new competitive pressures. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and Sangoma undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by law. Readers are directed to Sangoma’s filings on SEDAR with respect to Management’s Discussion and Analysis of Financial Results for the basis of Sangoma’s reconciliation of EBITDA to net income as calculated under IFRS
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