Spire Capital Partners Completes Sale of NetFortris to Sangoma Technologies
NEW YORK (March 30, 2022) – Spire Capital Partners (“Spire Capital”), a leading New York-based private equity firm specializing in investments in the technology-enabled business services, communications, media, and education sectors, announced today it has completed the sale of NetFortris, an existing Spire portfolio company, to Sangoma Technologies Corporate (“TSX: STC; Nasdaq: SANG) (“Sangoma” or the “Company”). NetFortris provides UCaaS and cloud-based, fully managed MSP (managed service provider) solutions for businesses of all sizes and across all industries. NetFortris has over 6,000 customers in North America, representing over 60,000 seats. Sangoma is a trusted leader in providing Communications as a Service (CaaS) solutions to businesses of all sizes. The consideration will be satisfied through a combination of cash and Sangoma common shares. This transaction serves to complement Sangoma’s end-to-end platform and growing customer preference for a single communications vendor, increases Sangoma’s recurring revenue percentage, and increases the Company’s scale and positioning within cloud communications.
Q Advisors LLC is serving as financial advisor to NetFortris and Dentons LLP is acting as U.S. and Canadian legal counsel to NetFortris. INFOR Financial Inc. is serving as financial advisor to Sangoma and Norton Rose Fulbright LLP is acting as U.S. and Canadian legal counsel to Sangoma.
Sangoma Technologies is a trusted leader in delivering Communications as a Service (CaaS) solutions for businesses of all sizes. Sangoma’s cloud-based Services include Unified Communication (UCaaS) business communications, Contact Center as a Service (CCaaS), Video Meetings as a Service (MaaS), Collaboration as a Service (Collab aaS), Communications Platform as a Service (CPaaS), Trunking as a Service (TaaS), Fax as a Service (FaaS), Device as a Service (DaaS), and Access Control as a Service (ACaaS). 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’s products and services are used in leading UC, PBX, IVR, contact center, carrier networks, office productivity, and data communication applications worldwide. 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 Technologies Corporation is publicly traded on the Toronto Stock Exchange (TSX: STC) and Nasdaq (Nasdaq: SANG). Additional information on Sangoma can be found at: www.sangoma.com.
About Spire Capital Partners
Spire Capital Partners (https://spirecapital.com/) is an experienced private equity firm with an investment focus in lower middle market companies within the technology-enabled business services, media, communications, and education sectors. Spire Capital was founded on the principle of partnering with management teams and founders to help effectuate the next stage of growth for their companies. Spire investment professionals have a deep set of operating and investing experiences that is leveraged to assist portfolio companies in accelerating growth, strategic planning, and executing business initiatives.
Spire Capital is a New York-based investment advisor registered with the Securities and Exchange Commission under the Investment Act of 1940. Market conditions can vary over time, and past fund performance does not guarantee future fund results.