BRC Group To Acquire Sangoma Technologies; Transaction Values Sangoma At An Enterprise Value Of ~$204M; Under Terms Of Deal, Sangoma Shareholders Will Receive $4.925 In Cash And 0.04767 Of A BRC Share For Each Sangoma Share Held; Sangoma Shareholders To Hold About 4% Of BRC Pro Forma Shares Post-Close

BRC Group Holdings, Inc. has announced a definitive agreement to acquire Sangoma Technologies Corporation for an enterprise value of approximately $204 million (C$289 million). Under the terms of the deal, Sangoma shareholders will receive $4.925 in cash and 0.04767 of a BRC share for each Sangoma share held, totaling about $170 million in cash and $10 million in BRC shares. Post-transaction, Sangoma shareholders will hold approximately 4% of BRC's pro forma outstanding shares, and Sangoma's shares will be delisted from the Toronto Stock Exchange and Nasdaq.