Update September 27, 2016: The acquisition by affiliates of Siris Capital Group, a private equity firm that specializes in acquiring technology and telecommunications companies, has officially closed.
Update July 8, 2016: Polycom receives superior proposal from investor group, and merger agreement with Mitel will be terminated. See the full press release here.
On April 15th two global industry leaders in enterprise and mobile communications announced a $1.8 billion merger. Polycom develops superior voice and video conferencing equipment and their strong brand name will be retained. Mitel powers network communications solutions for contact centers and small and large businesses including a broad array of technologies for Unified Communications. They also provide a comprehensive lineup of business IP desktop phones and devices.
More Value for Customers
Per the press release, the goal of the merger is to provide value that is more meaningful to customers. The combined company will be based in Ottawa, Canada with an estimated 7,700 employees globally.