Mitel Networks Corporation and Inter-Tel have completed their merger and Inter-Tel is now a wholly-owned subsidiary of Mitel, with Inter-Tel stockholders receiving $25.60 in cash for each share they held prior to the closing.
"We are delighted to complete our merger with Inter-Tel," says Don Smith, CEO of Mitel.
"Inter-Tel’s people, products, managed services and partnerships complement those at Mitel and will enable us to accelerate our growth strategy by extending our small/medium business (SMB) leadership position and continuing our expansion into the large business sector."
The company will now be the biggest in the North American SMB market and second in Western European IP lines shipped, and the overall leader in the UK communications market ..
With three trusted brands (Mitel, Inter-Tel and Lake), the company offers customers a broad choice of solutions from the very small to the very large, from IP enabled to pure IP unified communications, from standard solutions to tailored, from single site to multi-site and from outright capital purchase options through sophisticated managed services.
“We are extremely pleased to complete this transaction today, which we believe is in the best interests of Inter-Tel stockholders,” says Norman Stout, CEO of Inter-Tel.
“Our new company will be a formidable industry player in the US and across the globe and, as part of the Mitel team, we look forward to continuing to provide exceptional products and services to our mutually expanded customer base.”
Mitel will maintain Inter-Tel’s Arizona headquarters, which will become the centre of operations for the combined U.S. business and serve as an important centre of R&D excellence.
“We have common entrepreneurial roots, a shared vision and the breadth of solutions and technology to address the diverse needs of the rapidly changing communications market,” Don Smith adds.
“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.”