Sangoma Acquires PBX Developer and Fax-over-IP Service Provider
Sangoma Technologies Corp., a leading provider of hardware and software components for IP communications systems, recently announced it has finalized the acquisition of two businesses, effective Jan. 1, 2015. Sangoma now owns all key assets of Schmooze Com Inc., the primary developer and sponsor of the open source IP-PBX project FreePBX, and all outstanding shares of RockBocks Inc., a company providing a monthly Fax-over-IP service.
These two acquisitions are a major part of Sangoma's overall effort to introduce new products and services to the industry while widening its customer base. Schmooze Com and RockBocks offer products that are perfect for strategically extending Sangoma's existing product lines, which include telephony cards, gateways, session border controllers (SBCs), a suite of products for the Lync ecosystem and several other offerings. Furthermore, Sangoma's technology will be integrated into the two companies' offerings while making access to all products easier for channel partners.
Many customers have asked a Sangoma-supported PBX, which can now be offered as an Open Source or Commercial variant of FreePBX. Those who prefer to build or install their own are not left behind, however, as the company will continue to support them with easily integrated telephony cards, appliances for installing the customer's chosen PBX software on Sangoma hardware platforms, and gateways and SBCs for connecting to the PSTN or an IP-based network. For existing users of FreePBX or Fax-over-IP services, Sangoma can now offer its leading SIP trunking service.
"We’ve been exploring ways to accelerate growth and make better use of our cash, and these transactions do that, and are expected to significantly expand our growing software and services business by adding critical new sources of recurring revenue," said Bill Wignall, President and CEO of Sangoma. "I’m very pleased to have the Schmooze and RockBochs teams, products, and customers joining the Sangoma family."
During 2014, Schmooze and RockBochs generated a combined $4.5 million in revenue. Sangoma paid an initial aggregate consideration of $4 million, issued 3.7 million common shares to Schmooze shareholders for a value of $1 million and entered into earn-out arrangements for contingent consideration up to $1.5 million if targeted revenue is reached. The company also established a $2.5 million operating line of credit secured by a general security interest on assets.
Edited by Maurice Nagle