Local Tech Firm Acquired for $437 Million
Ontario-based Sangoma Technologies Corporation, a "communication as a service" (CaaS) company, has acquired Manatee County-based Star2Star Communications for $437 million. The transaction is subject to approval by Sangoma shareholders at a special meeting expected to be held in late March or early April 2021, with closing scheduled to occur shortly afterward. Star2Star's offerings include a comprehensive suite of voice, contact center, collaboration, integration, video meetings, Communications Platform as a Service (CPaaS), and Desktop as a Service solutions. From Sept. 30, 2019 to Sept. 30, 2020, Star2Star generated approximately $79.4 million in revenue.