Sangoma Technologies has just announced that it will acquire Paraxip Technologies Inc. for $4.8 million, payable as $1.9 million in cash and 2.3 million Sangoma common shares.
Paraxip develops IP connectivity software designed to empower the deployment of IP Telephony applications. Customers include IBM, Genesys (a subsidiary of Alcatel-Lucent), First Data Corporation, and the State of California.
The integration of Paraxip's SIP-based NetBorder suite into Sangoma's product line provides Sangoma with a growth path that includes the Unified Communications market, IP contact centers, commercial interactive voice response solutions and other SIP-based telephony markets.
According to the release announcing the acquisition, the combined products and channels of the two companies considerably extend Sangoma's current addressable market range by providing support for all software-based telephony applications.
"This acquisition is part of Sangoma's strategy for addressing the expanding market for telephony applications of all types, particularly the segment of the market that demands proprietary, well supported solutions," said David Mandelstam, President and CEO of Sangoma Technologies.