Huntsville-based Digium has been purchased by Sangoma Technologies, the companies announced Friday.

Digium, founded in 1999, is the creator of Asterisk, the most widely used open-source communication software in the world.

Sangoma, based in Markham, Ontario, was founded in 1984 and provides unified communications for SMBs, enterprises, OEMs and service providers.

Sangoma agreed Thursday to acquire all of the outstanding shares of Digium. The deal – valued at $28 million, including more than $24 million in cash – is expected to close on or about Aug. 31.

“I created Asterisk and Digium to be disruptive in the communications industry”, said Mark Spencer, founder and chairman of Digium. “I am really proud that it has grown under its current ownership and management to a very successful point, and it is now time to take it to the next stage as part of a larger, public company.

“Given the involvement of both companies in the history of Asterisk dating back to its creation in 1999, Sangoma is the natural home for the Asterisk project.”

The acquisition is, Sangoma’s seventh in seven years. After closing, the merged company will have a combined workforce of more than 300 employees.

“Sangoma and Digium have a long history of working together, while also competing in the marketplace, and have gotten to know each other very well over the years” said Sangoma CEO/President Bill Wignall. “Our relationship and mutual respect allows us both to know that the strategic fit between the two businesses really is excellent.”

Wignall offered assurance to Digium’s employees and customers.

“To the new staff that will be joining us, I’d like to welcome you to the growing Sangoma family,” he said. ‘To our Digium customers and partners around the globe, I’d like to assure you that everyone here at Sangoma remains committed to you, to the Digium products you rely upon, and to further contributing to your success.

“And, of course, to the Asterisk community, I would like to reassure you that Sangoma recognizes the value of Asterisk and is committed to keeping it open source. We will continue to invest in its development and to seek input from the broad base of developers that has led to its outstanding success.”

Digium generated approximately $30 million in revenue in its fiscal year ended Dec. 31, 2017,

“For many years both companies have had teams working to improve Asterisk and ake it more accessible,” Spencer said. “I believe Sangoma’s commitments should reassure the Asterisk community that Sangoma is dedicated to the project.

“I look forward to seeing the results of tighter collaboration between those teams, and the benefits to the community, now that they will be part of a single company.”