News : Mitel Receives Approval for Proposed Acquisition of Polycom
Ottawa, Ontario, Canada, May 19, 2016 -- Mitel (Nasdaq:MITL) (TSX:MNW) a global provider in real-time business, cloud and mobile communications, announced the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) for its proposed acquisition of Polycom, announced on April 15, 2016. Termination of the HSR Act waiting period satisfies one of the conditions to the closing of the pending transaction. The transaction, which is expected to close in Q3 2016, remains subject to other customary closing conditions, including receipt of shareholder and other regulatory approvals.
The combination of Mitel and Polycom will create a new industry provider with approximately 7,700 employees. Together, the combined companies will have the scale and a differentiated portfolio to enable expansion throughout the evolving enterprise communications market.
Posted by Veronica Silva Cusi, news correspondent
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Mitel is a global provider of enterprise and small business communications solutions and services. The company focuses on blending powerful infrastructure with an intuitive human interface to deliver the benefits of voice, video and data convergence to the user. Mitel's broad portfolio of solutions provide advanced voice, video and data communications platforms, desktop phones and Internet appliances, intuitive applications for customer relationship management and mobility, messaging and multimedia collaboration.
Manufacturer of Audio, Video and infrastructure products
Published: Monday, May 23, 2016