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Canada/US: Mitel and Polycom announce $1.96 billion merger

By  |  April 18, 2016

The recently announced merger of Mitel Networks Corp. and Polycom Inc. will provide their respective customers with the convenience of buying more unified communications from a single vendor.

Mitel announced late last week that it would acquire Polycom in a $1.96 billion cash-and-stock transaction that’s expected to close in the third quarter. The deal is the result of talks between Mitel and Polycom that started in October 2015 at the behest of Elliot Management, a private equity group with investments in both companies.

Mitel is a Canadian-based provider of cloud unified communications (UC) and telephony services, while the San Jose, Calif.-based Polycom makes video conferencingtechnology and telephone equipment. The combined company will have $2.5 billion in annual revenue and more than 7,700 employees.

Full Content: TechTarget

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