Mitel Networks Corp. today announed plans to acquire Tempe, Ariz.-based Inter-Tel, a provider of business communica...
April 26, 2007
Mitel Networks Corp. today announed plans to acquire Tempe, Ariz.-based Inter-Tel, a provider of business communications products and services for US$25.60 per Inter-Tel share in cash, representing a total purchase price of approximately US$723 million.
Once completed, the merger will create a major force in the SMB IP communications industry, the fastest growing sector of the IP communications market.
The private company will have two brands and anticipated revenues of over US$800 million, twice those of Mitel today.
“I believe this is a great fit and a win-win for all involved.” said Terry Matthews, chairman and co-founder of Mitel. “These are two entrepreneurial companies with the agility, flexibility and drive to win in the global market.”
The combined company, including Inter-Tel international subsidiaries such as Inter-Tel Europe, Swan Solutions and Lake Communications, will have market coverage in over 90 countries and customers in industries such as finance, healthcare, hospitality, retail, government and education.