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Canada: Communications merger inked, execs see market as ‘ripe for consolidation’

By  |  November 11, 2013

Communications provider Mitel Networks has made a deal to acquire smaller rival Aastra Technologies in a deal that represents the Canadian telco market’s readiness for consolidation, say reports.

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    The deal, made for more than $370 million, represents the fact that “the business communications market is ripe for consolidation,” according to Mitel CEO Richard McBee.

    McBee also stated in announcing the deal that he predicts smaller players in the market will be “marginalized” as they have narrow focuses and limited global reach.

    Full Content: Bloomberg

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