BRC to acquire Sangoma for $204 million; shares surge 44%

Investing.com·28 Sep 2026·

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BRC Group Holdings will acquire Sangoma Technologies Corp for approximately $204 million, sending Sangoma shares up 44% in after-hours trading Monday. Under the arrangement agreement, Sangoma shareholders will receive $4.925 in cash and 0.04767 of a BRC share for each Sangoma share held, implying a value of $5.225 per Sangoma share based on the 20-day volume-weighted average price of BRC shares on NASDAQ, a premium of approximately 47% to Sangoma's closing price on the TSX as of September 28, 2026. The transaction values Sangoma at an enterprise value of approximately $204 million, with Sangoma shareholders collectively receiving $170 million in cash and $10 million in BRC shares, the latter being freely tradable, and holding approximately 4% of the pro forma BRC shares outstanding upon completion. Sangoma CEO Charles Salameh called the deal a compelling outcome delivering immediate liquidity and certainty of value at a premium price, and the transaction follows a comprehensive strategic review announced in May 2026 and supervised by a special committee of independent directors. Sangoma's board unanimously approved the transaction and recommends shareholders vote in favor, with officers and directors holding approximately 27% of outstanding shares having entered into voting support agreements; the deal requires approval from at least two-thirds of votes cast at a special meeting, is subject to court and regulatory approvals, is not subject to any financing condition, and is expected to close no later than early 2027, after which Sangoma will operate as part of BRC Telecom.

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