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Ottawa’s Mitel has purchased an American company that specializes in video conferencing and technologies that allow companies to host virtual meetings over the Internet, for $1.96 billion U.S.
The mega deal, which will see Mitel acquire all of Polycom’s outstanding shares, was announced before the markets opened on Friday. However it still requires shareholder approval before it is made official.
Rumours of the merger have been been around for weeks. The proposed deal will see the two companies maintain separate brands even though ownership would be merged. The headquarters for the new company will remain here in Ottawa.
“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,” said Mitel chief executive officer Rich McBee in a release. “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.”
The Polycom acquisition is aimed at bolstering Mitel’s virtual meeting offerings at a time when workforces are becoming more mobile and telecommuting is becoming the everyday norm.
In the past few years, Mitel has shelled out more than $1 billion to acquire a handful of companies to extended its reach. The Kanata firm is now three firms in one – each with vastly differently trajectories.
Mitel‘s traditional business – telecom gear for business and government – is in retreat for the moment but still accounts for 70 per cent of revenues.
Cloud-based revenues are up 44 per cent year over year. Rather than paying upfront for telecom systems that are installed on-site, many customers are switching to communications services they can rent instead from Mitel‘s own servers (the cloud).
Mitel entered the mobile business in a big way with last year’s $560-million acquisition of Mavenir, a Texas firm. Mitel recorded fourth-quarter sales of $58.2 million in this segment – up 73 per cent compared with a year earlier (assuming Mavenir had been part of Mitel).
The company is hoping the Polycom acquisition will further help to bolster its offerings to small and medium businesses. The company has said, if approved, the acquisition will push Mitel’s annual revenues to more than $2.5 billion.
Friday’s deal will see Polycom stockholders paid $3.12 U.S. in cash and 1.31 Mitel common shares for each share of Polycom common stock, or $13.68 per share, marking a 22 per cent premium to Polycom shareholders.
The two companies are scheduled to hold a conference call at 8:30 a.m. to discuss the proposed deal and what it means to both brands.
More to come.
查看原文...
The mega deal, which will see Mitel acquire all of Polycom’s outstanding shares, was announced before the markets opened on Friday. However it still requires shareholder approval before it is made official.
Rumours of the merger have been been around for weeks. The proposed deal will see the two companies maintain separate brands even though ownership would be merged. The headquarters for the new company will remain here in Ottawa.
“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,” said Mitel chief executive officer Rich McBee in a release. “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.”
The Polycom acquisition is aimed at bolstering Mitel’s virtual meeting offerings at a time when workforces are becoming more mobile and telecommuting is becoming the everyday norm.
In the past few years, Mitel has shelled out more than $1 billion to acquire a handful of companies to extended its reach. The Kanata firm is now three firms in one – each with vastly differently trajectories.
Mitel‘s traditional business – telecom gear for business and government – is in retreat for the moment but still accounts for 70 per cent of revenues.
Cloud-based revenues are up 44 per cent year over year. Rather than paying upfront for telecom systems that are installed on-site, many customers are switching to communications services they can rent instead from Mitel‘s own servers (the cloud).
Mitel entered the mobile business in a big way with last year’s $560-million acquisition of Mavenir, a Texas firm. Mitel recorded fourth-quarter sales of $58.2 million in this segment – up 73 per cent compared with a year earlier (assuming Mavenir had been part of Mitel).
The company is hoping the Polycom acquisition will further help to bolster its offerings to small and medium businesses. The company has said, if approved, the acquisition will push Mitel’s annual revenues to more than $2.5 billion.
Friday’s deal will see Polycom stockholders paid $3.12 U.S. in cash and 1.31 Mitel common shares for each share of Polycom common stock, or $13.68 per share, marking a 22 per cent premium to Polycom shareholders.
The two companies are scheduled to hold a conference call at 8:30 a.m. to discuss the proposed deal and what it means to both brands.
More to come.
查看原文...
