Sangoma Technologies Buys Schmooze Com, RockBochs - Quick Facts

(RTTNews) - Canada-based Sangoma Technologies Corp. (STC.V) said it has acquired all the key assets of Schmooze Com Inc. as well as all the outstanding shares of RockBochs Inc., both based in the U.S. The company noted that both the transactions closed on January 1, 2015.

Wisconsin-based Schmooze is the primary developer of FreePBX and the manager/sponsor of that open source project, one of the mostly widely used IP-PBXs in the world. Schmooze offers chargeable, add-on commercial modules, support services, accompanying hardware to complement FreePBX, and an integrated SIP trunking service to the base of FreePBX users.

Sangoma paid initial aggregate consideration of $4 million in cash, issued 3.65 million common shares to Schmooze shareholders for a value of $1 million, and entered into earn-out arrangements for contingent consideration of up to $1.5 million if certain revenue targets are achieved.

Minnesota-based RockBochs offers Fax-over-IP monthly service, including developing its own FoIP customer premise equipment and offers semi-custom telecom appliances that allow customers to install their own communications software on a purpose-built server.

Sangoma noted that on a combined basis, the acquired businesses will have generated between $4.5 million and $5 million in revenue during calendar 2014 and both have been historically profitable. Following integration, the company expect these acquisitions to be accretive to its earnings immediately.