TransactionFirePower advises Versature on sale to net2phone

OUR ROLE

Advisory — Sell-Side

SECTOR

Media & Telecom

OUR TEAM

Ilan Jacobson
Alan Chettiar
Somant Maraj

Background
Versature is a rapidly growing Canadian VoIP service provider. The company acknowledges it plays in a very competitive space, albeit one that is ripe for a shake-up of the large, slow-moving incumbents. Versature had positioned itself well to be that disruptor, but needed more resources and sought a strategic partner. ​ Previously, the company had been through an unsuccessful sale process with another corporate finance firm. A decision was made to work with FirePower after receiving assurances that the firm would be undaunting in casting a wide buyers’ net and additionally, would run a carefully considered sale process.

Solution
FirePower’s M&A Advisory team crafted a story highlighting Versature’s strong growth story, brand, people and processes, then approached more than 200 prospective buyers, and received bids from 4 strategics. The most compelling offer came from net2phone, a subsidiary of US public company, IDT.​

Our team played a critical role throughout the letter of intent (LOI) negotiations, bridging differences in terminology and formulas. As Paul Emond, CEO of Versature explains: “The team's execution was impressive, guiding us through the final stage of the process to a successful close within 90 days of signing the LOI.” ​

​Under new ownership, and with expanded access to capital, Versature is well-positioned to accelerate its growth trajectory in the Canadian market, and collaborate on initiatives within IDT abroad.

what people are saying

FirePower’s M&A Advisory team helped us to convey the strong growth story that was Versature, showcasing our people, processes, numbers and metrics. They built a worldwide list of potential acquirers and through diligent effort surfaced a strong US buyer for Versature. Alan and the team were a great source of expertise and experience during our negotiations. The team’s execution was impressive, guiding us through the process to a successful close just 90 days after signing the LOI.

Head Shot
Paul Emond,CEO, Versature

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