Brief: Sangoma announces acquisition of Voip Supply LLC

Sangoma Technologies

20/06/2017 14:06

June 20 (Reuters) - Sangoma Technologies Corp  STC.V  
    * Sangoma announces acquisition of Voip Supply LLC 
    * Sangoma Technologies - Voip supply will operate as a 
separate subsidiary of Sangoma with appropriate autonomy that 
distribution businesses require 
    * Sangoma Technologies Corp - following deal closing, voip 
supply's current president, Paula Griffo, will continue to lead 
company on a permanent basis 
    * Sangoma Technologies Corp - expects that in fiscal 2018, 
acquisition of Voip supply will be accretive, will add over 
c$15m in revenue to Sangoma 
    * Sangoma Technologies Corp - Sangoma will pay initial 
consideration of $3.0 million in cash 
    * Sangoma Technologies Corp - consolidated revenue in fiscal 
year 2018 expected to exceed $45 million 
    * Sangoma Technologies - to issue 993,627 common shares for 
deemed value of us$0.6 million, enter into agreement for 
contingent consideration of up to $0.4 million 
    * Sangoma Technologies Corp - Sangoma has extended company's 
borrowing capability with its current canadian bank from c$2.5 
million to c$4.5 million 
    * Sangoma Technologies Corp - purchase of Voip supply will 
have no material impact on sangoma's financial results for 
fiscal year 2017 
 
Source text for Eikon:  ID:nCCN10trqa  
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