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Cloud Communications Developer Surges 38% on US$204M Takeover Deal
Agreeing to a multi-million-dollar buyout at a steep valuation premium drove a same-session surge in unified communications today, highlighting ongoing consolidation across enterprise cloud software. Sangoma Technologies Corporation (TSX: STC) (NASDAQ: SANG) entered into a definitive arrangement agreement to be acquired by an affiliate of BRC Group Holdings, Inc. (NASDAQ: RILY). The transaction values the Markham, Ontario-based company at an enterprise value of approximately US$204.0 million (C$289.0 million). Under the terms of the agreement, Sangoma shareholders will receive ...
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