Mitel announced April 15 it has entered into a definitive merger agreement to purchase video and voice conferencing firm Polycom for $1.96 billion in a cash and stock deal.
In April 2015, Mitel acquired Mavenir Systems, which provides converged IP communications systems for enterprises, service providers and mobile operators.
“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,” CEO Rich McBee said.
“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. Together…the combined company will have the talent and technology needed to truly deliver integrated solutions to businesses and service providers across enterprise, mobile and cloud environments.”
“Together, Polycom and Mitel expect to drive meaningful value for our shareholders, customers, partners and employees around the world,” Peter Leav, President and CEO of Polycom, said. “We look forward to working closely with the Mitel team to ensure a smooth transition and continued innovation to bring the workplace of the future to our customers.”
Mitel will retain the Polycom brand and the new combined company will be headquartered in Ottawa, Canada with a global workforce of around 7,700.
