Mitel Networks Corp. (NASDAQ: MITL) said it has completed its merger with Aastra Technologies Ltd..
With USD1.1bn of combined annual revenue and 60m customers worldwide, Mitel now has one of the largest global footprints in the industry and is driving consolidation in the USD18bn business communications market.
Mitel acquired all of the issued and outstanding Aastra common shares. Shareholders of Aastra received USD6.52 in cash plus 3.6 common shares of Mitel for each Aastra common share held. The total amount of cash paid by Mitel was approximately USD80.0m and the number of Mitel shares issued was 44,162,509. Mitel financed the cash consideration of the transaction from cash on hand and from a portion of the proceeds from the new credit facility as discussed above.
Mitel is a leader in business communications that easily connect employees, partners and customers. Mitel offers customers maximum choice with one of the industry´s broadest portfolios and the best path to the cloud. Its website is at www.mitel.com.