M&A Deal Summary

Sangoma Acquires NetFortris

On March 29, 2022, Sangoma acquired internet software and services company NetFortris from Spire Capital Partners for 80M USD

Acquisition Highlights
  • This is Sangoma’s 1st transaction in the Internet Software and Services sector.
  • This is Sangoma’s 2nd largest (disclosed) transaction.
  • This is Sangoma’s 8th transaction in the United States.
  • This is Sangoma’s 1st transaction in Texas.

M&A Deal Summary
Date 2022-03-29
Target NetFortris
Sector Internet Software and Services
Buyer(s) Sangoma
Sellers(s) Spire Capital Partners
Deal Type Add-on Acquisition
Deal Value 80M USD
Advisor(s) Q Advisors LLC (Financial)
Dentons (Legal)

Target

NetFortris

Plano, Texas, United States
NetFortris provides secure cloud-based UCaaS, managed network solutions, hosted productivity applications, security, and specialized applications for enterprises of all sizes. The company's Cloud Solutions Platform, a proprietary cloud services management and analytics platform, provides the foundation for all NetFortris services, and delivers security, analytics, and integrated management for simple, scalable, and highly secure cloud communications operations. NetFortris was established in 1993 and is based in Plano, Texas.

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Buyer(S) 1

Buyer

Sangoma

Markham, Ontario, Canada
Category Company
Founded 1984
Sector Technology Hardware
Employees748
Revenue 253M USD (2023)
DESCRIPTION

Sangoma is a provider of hardware and software components that enable or enhance IP Communications Systems for both telecom and datacom applications. Sangoma’s data cards, voice cards, gateways and connectivity solutions are used in leading PBX, IVR, contact center and data-communication applications worldwide. The product line includes both hardware and software components that offer a comprehensive toolset for deploying cost-effective, powerful and flexible communication solutions. Sangoma was incorporated in 1984 and is based in Markham, Canada.

DEAL STATS #
Overall 10 of 10
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 8 of 8
State (Texas) 1 of 1
Country (United States) 8 of 8
Year (2022) 1 of 1
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-29 Star2Star

Sarasota, Florida, United States

Star2Star is a privately-held provider of full-spectrum, internally developed, cloud-native communications services delivered via a high availability, multi-tenant platform. Star2Star targets the value market segments in business communications, including mid-market and enterprise size customers, through solutions that enable digital transformation. Star2Star’s offerings include a comprehensive suite of voice, contact center, collaboration, integration, video meetings, Communications Platform as a Service (CPaaS), and Desktop as Service solutions that work on any device from PC’s to desk phones to mobile softphones, all accessible from anywhere. Star2Star was founded in 2006 and is based in Sarasota, Florida.

Buy $437M

Seller(S) 1

SELLER

Spire Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 900M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Spire Capital Partners is a private equity firm that targets buyout investments in mid-sized information services, media, communications, and business service companies. The Firm looks for cash-flow positive, US-based businesses with high barriers to entry. Spire seeks to commit $15 to $125 million of equity per transaction and has an investment horizon of three to seven years. Spire Capital Partners was formed in 2000 and is based in New York City.

DEAL STATS #
Overall 25 of 27
Sector (Internet Software and Services) 4 of 4
Type (Add-on Acquisition) 18 of 19
State (Texas) 4 of 4
Country (United States) 24 of 26
Year (2022) 1 of 2
Size (of disclosed) 8 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-06 Inception

Fairfield, New Jersey, United States

Inception is a technology-driven production company that builds and supports virtual engagement products and services to help clients reach and more fully connect with their stakeholders. Inception was founded in 2005 and is based in Fairfield, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-05 Penlink

Lincoln, Nebraska, United States

Penlink is a provider of communications surveillance software to top federal, state, and local law enforcement agencies in the U.S. and internationally. Penlink was founded in 1986 and is based in Lincoln, Nebraska.

Buy -
Mergr

Product

Company

Legal