TORONTO, ONTARIO--(Marketwire - Aug. 4, 2010) - Sangoma(R) Technologies Corporation (TSX VENTURE:STC), a leading supplier of hardware and software enabling server-based voice and data communication applications, announced today that has appointed William J. Wignall, P.Eng., as new President and CEO, effective September 7, 2010. Mr. Wignall will replace David Mandelstam, the current Chief Executive Officer who will remain on the Board as Chairman. Mr. Mandelstam is a founder of Sangoma Technologies and has been Chief Executive since 2001.
"We are delighted to welcome Bill to lead the company in the execution of its growth strategy. Bill has demonstrated solid top and bottom-line management success in a number of senior management roles in companies of various sizes in the technology sector," said David Mandelstam. "We appointed Bill after an extensive search and are confident that his deep operational and strategic skills will be major assets to the Corporation."
Mr. Wignall most recently held the role of President and CEO at Truition Inc., a developer and marketer of e-Commerce software. He previously had been President and CEO of Electronics Workbench, a supplier of design, development and simulation software for electronics engineering, where he guided the company through an aggressive growth and rebranding phase that culminated in the sale of the company to National Instruments. Bill has served in senior management roles throughout his career at companies ranging in size from startups to Northern Telecom, BNI and Telezone.
"This is an exciting time to be assuming leadership of Sangoma," said Bill Wignall. "The company is poised for expansion based on its investments in new products and distributors, as well as on its financial strength. We will work closely with existing customers and our valued channel partners, and will also target new markets and territories, to further accelerate growth. The Sangoma name and solid reputation for product reliability, voice quality, inventory availability, and industry leading compatibility will be important assets as we do this. I'm proud to be taking over such a well run company and we will be careful to maintain our existing close partnerships and product investment in the voice and data industry that have brought us this far."
Under the terms of his employment agreement, Mr. Wignall will be granted options to acquire 1,651,654 common shares of Sangoma, representing 6% of the number of shares on a fully-diluted basis at the date hereof. Two-thirds of these options will be granted at a price determined at the time of the grant (which is expected to be within the current calendar quarter), and an equal amount of the remaining balance of the options will be priced at a 15% premium and a 25% premium to the primary grant of options. The options will vest over a five year period.
About Sangoma Technologies Corporation
Sangoma is the premium provider of voice and data connectivity components for software-based communication applications. Sangoma's data cards, voice cards, gateways and connectivity software are used in leading PBX, IVR, contact center and data-communication applications worldwide. The product line represents a comprehensive toolset for deploying cost-effective, powerful, and flexible software communication applications.
Founded in 1984, Sangoma Technologies Corporation is publicly traded on the TSX Venture Exchange (TSX VENTURE:STC). Additional information on Sangoma can be found at: www.sangoma.com.