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
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.
