Showing posts with label Mitel. Show all posts
Showing posts with label Mitel. Show all posts

Friday, April 27, 2018

Private investors to acquire Mitel

An investor group led by affiliates of Searchlight Capital Partners has agreed to acquire Mitel for approximately $2.0 billion in cash, including Mitel’s net debt.

Mitel shareholders will receive $11.15 per common share in cash, representing a premium of approximately 24% to the 90-calendar-day volume-weighted average price of Mitel common shares through April 23, 2018. 

Upon completion of the transaction, Mitel will become a privately held company.

Terry Matthews, Mitel Co-founder and Chairman, said, “Mitel has succeeded for 45 years because of persistent innovation and relentless focus on delivering shareholder value. Our Board determined that this transaction, upon closing, will deliver immediate, significant and certain cash value to our shareholders. It also affirms the tremendous value and market leadership of Mitel. We believe this transaction will provide Mitel with additional flexibility as a private company to pursue the company’s move-to-the-cloud strategy.”

Sunday, July 10, 2016

Polycom Drops Mitel Merger, Agrees to Private Equity Buyout

The Board of Directors of Polycom terminated a previously announced merger agreement with Mitel Networks Corporation, and instead approved a new merger agreement with Triangle Private Holdings I and Triangle Private Merger Sub, entities affiliated with Siris Capital Group.

Under the new deal with Siris, outstanding shares of common stock of Polycom will be exchanged for $12.50 per share in cash at the completion of the merger.

On July 7, 2016, Mitel Networks Corporation waived its right to renegotiate its merger agreement with Polycom after receipt of notice of the Polycom board’s determination that Siris was offering a superior deal. Polycom will pay a merger termination fee to Mitel.

http://www.polycom.com





Mitel to Acquire Polycom for Nearly $2 Billion


Mitel agreed to acquire all of the outstanding shares of Polycom common stock in a cash and stock transaction valued at approximately $1.96 billion, including $3.12 in cash and 1.31 Mitel common shares for each share of Polycom common stock, or $13.68 based on the closing price of a Mitel common share on April 13, 2016 -- a 22% premium to Polycom shareholders based on Mitel's and Polycom's recent share prices. The deal combines Mitel's leadership...

Sunday, April 17, 2016

Mitel to Acquire Polycom for Nearly $2 Billion

Mitel agreed to acquire all of the outstanding shares of Polycom common stock in a cash and stock transaction valued at approximately $1.96 billion, including $3.12 in cash and 1.31 Mitel common shares for each share of Polycom common stock, or $13.68 based on the closing price of a Mitel common share on April 13, 2016 -- a 22% premium to Polycom shareholders based on Mitel's and Polycom's recent share prices.

The deal combines Mitel's leadership in global communications with Polycom's well-known premium brand and portfolio in the conference and video collaboration market. The combined company will be headquartered in Ottawa, Canada, and will operate under the Mitel name while maintaining Polycom's strong global brand. Richard McBee, Mitel's Chief Executive Officer will lead the combined organization. Steve Spooner, Mitel's Chief Financial Officer, will also continue in that role. The combined company will have a global workforce of approximately 7,700 employees.

"Mitel has a simple vision - to provide seamless communications and collaboration to customers. To bring that vision to life we are methodically putting the puzzle pieces in place to provide a seamless customer experience across any device and any environment," said Mitel CEO Rich McBee. "Polycom is one of the most respected brands in the world and is synonymous with the high quality and innovative conference and video capabilities that are now the norm of everyday collaboration."

Some key market positions include:

#1 in business cloud communications
#1 in IP/PBX extensions in Europe
#1 in conference phones
#1 in Open SIP sets
#2 in video conferencing
#2 in installed audio
Combined portfolio of more than 2,100 patents and more than 500 patents pending

http://www.mitel.com
http://www.polycom.com

Mitel Acquires Mavenir for $560 million

Mitel agreed to acquire Mavenir Systems (NYSE:MVNR) in a cash and stock deal valued at approximately $560 million.

Mitel specializes in enterprise and mobile IP unified communications.  Mavenir prrovides software-based mobile networking solutions, including a portfolio of voice/video, messaging and mobile core products that include IP Multimedia Subsystem (IMS), Evolved Packet Core (EPC) and Session Border Controllers (SBCs). Mavenir was the supplier for the world’s first live network deployments of Voice over LTE (VoLTE) and RCS5 with MetroPCS (now T-Mobile); the first mobile network deployment of IMS-based VoWi-Fi (Wi-Fi calling) with T-Mobile US; and the first implementation of Virtualized RCSe with Deutsche Telekom.

Monday, April 11, 2016

DragonWave and Mitel Target 5G

DragonWave and Mitel are collaborating on 5G technology development.

Mitel, which supplies network function virtualization (NFV) mobile solutions, will contribute software and mobile network expertise to the project. DragonWave will contribute all outdoor networking expertise combined with small cell-focused and high-capacity, spectrally-efficient packet wireless backhaul solutions.

"Enabling increased coverage in both dense urban and rural environments while supporting the thrust for virtualization drives the need for new relationships," said Peter Allen, President and CEO, DragonWave. "We are pleased to work closely with Mitel who has both scale and a common customer base. We share a focus to bring innovative solutions to the 5G mobile market."

"5G opens the door to a fundamental new way to architect mobile networks, including increased integration between access and backhaul components and smaller cell sizes, where an integrated solution becomes more critical," said Pardeep Kohli, President of 5G Cloud Connectivity, Mitel. "This collaboration enables an integrated 5G solution set that will be easier to deploy, optimize and maintain."

http://www.mitel.com
http://www.dragonwaveinc.com/

Monday, March 2, 2015

Mitel to Acquire Mavenir for $560 million

Mitel agreed to acquire Mavenir Systems (NYSE:MVNR) in a cash and stock deal valued at approximately $560 million.

Mitel specializes in enterprise and mobile IP unified communications.  Mavenir prrovides software-based mobile networking solutions, including a portfolio of voice/video, messaging and mobile core products that include IP Multimedia Subsystem (IMS), Evolved Packet Core (EPC) and Session Border Controllers (SBCs). Mavenir was the supplier for the world’s first live network deployments of Voice over LTE (VoLTE) and RCS5 with MetroPCS (now T-Mobile); the first mobile network deployment of IMS-based VoWi-Fi (Wi-Fi calling) with T-Mobile US; and the first implementation of Virtualized RCSe with Deutsche Telekom.

Mavenir said the deal provides it with the financial and operational footprint to drive further market expansion.

“Mitel is a leader in enterprise and cloud communications, markets in which mobility is becoming increasingly influential. With wireless adoption of IP and 4G LTE and demand for next gen mobile services ramping quickly, we see a compelling opportunity to capitalize on a major market transition to add a high-growth mobile business to Mitel,” said Rich McBee, President and CEO of Mitel. “We believe the combination of Mitel and Mavenir creates a powerful new value proposition for enterprises and mobile service providers, using a common IP technology layer as the foundation for convergence, growth and competitive differentiation.”

“The move to all-IP LTE mobile networks has created a unique opportunity for service providers to leverage a converged all-IP network to offer feature-rich business and consumer communication services to any device, anywhere, on any access network,” said Pardeep Kohli, President and CEO, of Mavenir. “We believe that the combined company is ideally positioned to capitalize on the trends within the communications industry today; namely, the convergence across enterprise and mobile networks to all-IP technologies, and the transition to cloud-based unified communications telephony and software-defined virtualized infrastructure.”

http://mavenir.com/

See also