Venturewave Exits Unified Communications Business, StarBlue

Venturewave, the group and affiliate holding company of Venturewave Capital Limited and Blueface, confirmed today that it has successfully agreed to the sale of StarBlue Inc., a leading enterprise communications business, to Sangoma Technologies Corporation (“Sangoma”) (TSXV: STC), a trusted leader in delivering cloud-based Communications-as-a-Service (“CaaS”) solutions, which is listed on the Toronto Venture Exchange in Canada. The transaction is scheduled to close by March 31, 2021, subject to approval from Sangoma shareholders, the TSX Venture Exchange, and other customary closing conditions.

StarBlue was established in January 2018 due to the merger between Blueface, a global cloud unified communications company based in Ireland, and Star2Star Communications, a full-spectrum enterprise communications company based in Florida.  Blueface was successfully acquired in January 2020 by Comcast, the international media, entertainment and communications company.   Sangoma’s acquisition of StarBlue and its remaining portfolio asset, Star2Star Communications, represents an opportunity to unite two world-class unified communications companies with a full range of enterprise communications offerings, enabling them to compete globally.

Since Venturewave originally invested in Blueface in 2011, the business has scaled rapidly through organic growth, global expansion, and M&A The creation of StarBlue has created a differentiated portfolio of enterprise communications companies.  “When we first invested, we knew the Company was primed for success with innovative technology to compete on the world stage. The merger with Star2Star to form StarBlue, subsequent key partnerships, M&A and successful divestitures have made this investment journey a rewarding and exciting one,” said Alan Foy, Chairman of Venturewave.

Throughout the investment, Venturewave deployed an active management methodology engaging a network of senior operating professionals with specialised expertise to drive expansion and strategic development opportunities.  Finally, Alan Foy commented, “As we exit at this juncture, we would like to thank Norman Worthington and wish him and the entire StarBlue team the best on the next phase of their journey with Sangoma”.

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Issued on behalf of Venturewave by Heneghan

Contact:

Nigel Heneghan

Email: Nigel@heneghan.ie

Phone: + 353 086 258 7206