Two weeks after Inter-Tel Inc. stockholders approved a merger with Mitel Networks Corps., the companies have sealed the $723 million deal.
Mitel said on Thursday it now is the top IP unified communications provider for enterprises and SMBs in North America and the second-largest in the Western European IP PBX market.
As we come together we will deliver innovative solutions and managed services for our existing customers and channel partners, so that no one is stranded or forced to consider an alternate vendor. We intend to be the logical choice for both existing and new customers, said CEO Don Smith.
Mitel is based in Ottawa; Inter-Tel is headquartered in Tempe, Ariz. The new Mitel now claims 3,500 employees and 1,500 VARs, distributors and systems integrators.
The merger was announced April 26 when Mitel said it would acquire Inter-Tel for $25.60 per share in cash. The deal gives Mitel a stronger presence in the U.S. market and doubles its current revenue stream to a combined $800 million. Both companies are privately held. Mitel withdrew its registration for an initial public offering pending the outcome of the transaction. Inter-Tel stopped trading its common stock on the Nasdaq as of yesterday.
The companies have said the merger will allow them to extend their reaches with SMBs and expand into the large-business IP communications market. The combined company, including Inter-Tel international subsidiaries, such as Inter-Tel Europe, Swan Solutions and Lake Communications, will have operations in more than 90 countries.
Inter-Tel Inc. www.inter-tel.com
Mitel Networks Corp. www.mitel.com
Our top stories of the week featured @AppSmart_com and @VeloCloud. dlvr.it/RLDsNs
December 13 2019 @ 19:46:02 UTC
.@marketsandmarkets report shows accelerating growth of global #IDPS market with @Cisco @McAfee @ATT among major pl… twitter.com/i/web/status/1…
December 12 2019 @ 20:52:02 UTC
Channel partners should be ready to capitalize on Chromebooks’ move into the enterprise market. dlvr.it/RL9T3L
December 12 2019 @ 20:36:01 UTC
It’s the top reason you join us in Vegas, so in 2020 we’re delivering our largest expo hall yet! Expect to see top… twitter.com/i/web/status/1…
December 12 2019 @ 18:15:07 UTC
.@broadvoice hires @StarLeafCo vet as regional channel manager. #PBX dlvr.it/RL8mkK
December 12 2019 @ 16:43:32 UTC
.@Telesystemus appoints @NetCarrier vet as manager of sales operations. #VoIP dlvr.it/RL8fQ5
December 12 2019 @ 16:06:32 UTC
.@CyberX_Labs debuts expanded #partnerprogram. #cybersecurity dlvr.it/RL61dK
December 11 2019 @ 21:31:01 UTC
.@IntelePeer talks about how partners can help customers with #digitaltransformation. #EvolutionEU dlvr.it/RL5r3Q
December 11 2019 @ 20:17:32 UTC