June 20, 2017 / 1:26 PM / 5 months ago

BRIEF-Sangoma announces acquisition of Voip Supply LLC

June 20 (Reuters) - Sangoma Technologies Corp

* 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: Further company coverage:

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