Mitel to buy Polycom for $ 1.96 Billion

Video conferencing market is touch its new high, driven by global enterprises. With the increasing need to lower operational costs and effectively manage a global supply chain to address the global Video conferencing market. Increasing adoption of video conferencing services in the public sector and healthcare verticals is further expected to drive the growth of the market during the coming years. Following the closing of the deal worth $ 1.96 Billion,Polycom shareholders will hold nearly 60 percent and Mitel shareholders will hold approximately 40 percent of Mitel.

Richard McBee, chief executive officer of Mitel, will lead the combined organization and Steve Spooner, chief financial officer of Mitel, will also continue in that role. Polycom directors will have two seats on the Mitel board. The combined company will have a workforce of approximately 7,700 employees, will have its headquarters in Canada and will operate under the Mitel name while retaining the Polycom brand...Read more