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Mitel Networks Corp (NASDAQ:MITL) Closes Acquisition Deal With Toshiba

Mitel Networks Corp (NASDAQ:MITL) an international leader of enterprise communications, reported that it has closed the acquisition of certain inventory, assets and support requirements from Toshiba Corporation’s Unified Communications operations. The update the MoU finalized by the two firms on May 11, 2017.

The details

Effective immediately, Toshiba partners and clients have a clear direction forward with Mitel, comprising underway access to current Toshiba services and products. In addition, to support business continuity, a major group of Toshiba support, sales and R&D staff will join company and will continue to offer support to current Toshiba partners and customers. The transaction also comprises a transition services deal to offer service and product continuity.

The deal showcases Mitel’s plan to focus on expanding its role in the UCC segment as digital transformation boosts demand for cloud-based corporate communications solutions and business efficiency applications are redesigning organizations internationally.

Rich McBee, the CEO of Mitel, reported that in a rapidly transforming and opportunity rich know-how landscape, the company is helping consumer seek a smooth path onward whether on the premise, or in the cloud, or a hybrid of both. The CEO added that they are thrilled to officially welcome Toshiba partners, employees and customers to the Mitel family.

More recently, Mitel reported the North American release of “MiVoice Office” 400 hospitality package that supports real-time staff and guest communications to provide 40-150 room hotels a robust foundation for leading operating efficiencies, boosting ADR and increasing guest satisfaction.

As travelers progressively look to the social and mobile world for hotel selection and trip planning, online reviews carry considerable weight when it is about independent hotels. A recent survey discloses online assessments are one of the most vital decision making factors when selecting a hotel destination, next to price.

In the last trading session, the stock price of Mitel recorded marginal gains of 0.14% to close the day at $7.08.

Published by Nicholas Maithya

Nicholas is a Financial Analyst by profession, who enjoys writing about investments, technological developments, business, economics and other financial topics at various financial publications. Join him here on as he endeavors to deliver to you the latest breaking news on the above mentioned fronts. Contact him by email at [email protected] or follow Nicholas Kitonyi @nmaithyak on Twitter.

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