Brief: Sangoma Announces Strategic Acquisition Of Voip Innovations

Sangoma Technologies

21/10/2019 12:40

Oct 21 (Reuters) - Sangoma Technologies Corp  STC.V :
    * SANGOMA ANNOUNCES STRATEGIC ACQUISITION OF VOIP
INNOVATIONS, LLC
    * SANGOMA PAID AN UPFRONT CONSIDERATION OF US$36 MILLION FOR
DEAL
    * CONSIDERATION WHICH CONSISTED OF US$30 MILLION IN CASH AND
US$6
MILLION IN SANGOMA COMMON SHARES
    * THERE IS A CONTINGENT CONSIDERATION COMPONENT OF UP TO
US$6
MILLION
    * EXPECTED THAT REVENUES WILL INCREASE TO BETWEEN C$135
MILLION
AND $143 MILLION IN FISCAL 2020
    * COMPANY ANTICIPATES GENERATING EBITDA OF BETWEEN
APPROXIMATELY
C$19 AND $20 MILLION THIS FISCAL YEAR
    * INFOR FINANCIAL INC. ACTED AS EXCLUSIVE FINANCIAL ADVISOR
TO
SANGOMA IN CONNECTION WITH TRANSACTION.

Source text for Eikon:  ID:nGNX1y3znh 
Further company coverage:  STC.V 

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