Deal Flow
Letter · prints on one page
Transaction tear sheetData as of Nov 7, 2026
M&A · Tech · Services-Computer Programming, Data Processing, Etc.

BRC Group Holdings, Inc. to acquire Sangoma Technologies Corp

Announced Sep 28, 2026 · Announced

Deal value$204MEV $204M
Premium—To unaffected price
EV / Adj. EBITDA—0.9x EV / Revenue
ConsiderationCash and stock

Transaction

Acquirer
BRC Group Holdings, Inc. (RILY)
Target
Sangoma Technologies Corp (SANG)
Buyer type
Strategic
Offer price per share
—
Enterprise value
$204M
Status
Announced

Deal protections

Not yet read from the merger agreement.

Advisors

To the acquirer
Not disclosed
To the target
Not disclosed

Sector context · Tech

Comparable deals
65 in the prior 24 months
Premium
Sector median 39.5%
EV / Adj. EBITDA
Sector median 15.4x
Break fee
Sector median 3.0%

Timeline

  1. AnnouncedSep 28, 2026
  2. ClosedPending
Sources
  • 8-K (EX-99.1) · Oct 1, 2026

Adj. EBITDA is operating income + D&A + impairment, restructuring, deal costs and stock compensation, less any large gain on a sale, last twelve months, from the target's filings. Calculated by Castle, so it can differ from a bank's adjusted figure.

Prepared with Castle from public SEC EDGAR filings. Figures are extracted automatically; verify against the source documents. Not investment advice.