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Q Advisors Represents NetFortris in Acquisition by Sangoma

MARKHAM, ONTARIO - March 29, 2022 -- Sangoma Technologies Corporation (TSX: STC; Nasdaq: SANG) ("Sangoma" or the “Company”), a trusted leader in delivering cloud-based Communications as a Service solutions for companies of all sizes, today announced it has acquired NetFortris Corporation (“NetFortris”). This acquisition further accelerates Sangoma into the upper echelon of SaaS communications providers and extends our industry leading suite of cloud services with new MSP capabilities, thereby delivering even more ‘one stop shopping’ for our customers and providing larger ‘share of wallet’ for Sangoma.

NetFortris provides UCaaS and cloud-based, fully managed MSP (managed service provider) solutions for businesses of all sizes and across all industries. They have approximately 250 employees and four primary offices in Dallas, Seattle, Los Angeles, and Manila. In addition to NetFortris’ UCaaS offering, their MSP product line delivers all the mission critical communications services that customers need to complement their ‘as a Service’ applications, such as managed network security, managed SD-WAN, managed network access, monitoring, etc. These MSP services are built upon a highly integrated, end-to-end managed network, backed up by an expert 24/7 network engineering team. NetFortris has over 6,000 customers in North America, over 60,000 seats, with very low customer concentration, and generates expected annualized revenue of just over USD $50 million.

“A critical part of our existing strategy, and of our competitive differentiation, involves providing customers with the widest set of cloud communications services in our industry, avoiding the need for them to buy five different services from five different vendors,” said Bill Wignall, President, and CEO of Sangoma. “The acquisition of NetFortris further extends that strategy in such a perfectly natural manner. Not only can customers already get from Sangoma all the ‘aaS’ products they use today, but now they will also be able to obtain all the other cloud-based MSP services they know they need, such as managed network security, managed access, and managed SD-WAN. This truly is ‘one stop shopping’ for our customers, and it taps into that very important new trend that so many of us in the industry see starting to emerge. I am most excited about this acquisition, our eleventh in eleven years, because it demonstrates our innovative, unique, forward-looking vision and it continues to push Sangoma ahead in the market, further differentiating us from the competition.”

Q Advisors, a telecom, media, and technology global investment banking boutique, acted as financial advisor to NetFortris in connection with this transaction.

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