BRC Group to Acquire Sangoma Technologies in $204 Million Cash-and-Stock Deal

BRC Group Holdings Inc. (RILY) agreed on Sept. 28, 2026, to acquire Sangoma Technologies Corp. (STC.TO, SANG) for approximately $204 million in cash and stock, sending Sangoma shares up 40.67% overnight to $5.05 on the Nasdaq. Under the agreement, Sangoma shareholders will receive $4.925 in cash and 0.04767 of a BRC share per share held, totaling about $170 million in cash and $10 million in BRC stock. Sangoma holders will own roughly 4% of BRC's pro forma shares after closing, expected no later than early 2027. The deal requires shareholder, court and regulatory approvals. BRC will fund it through an amended $215 million senior secured term loan and an equity contribution. Sangoma will join BRC Telecom's communications portfolio. The combined businesses generated about $441 million in trailing-12-month revenue as of June 2026, with BRC's communications segment posting roughly $52 million in segment income. BRC shares closed 3.68% lower at $11.52, then rose 8.58% after hours to $12.51.