Powered by

Mitel's $560M purchase of Mavenir continues pace of convergence, consolidation

Mar 02, 2015 - The Deal Pipeline

Business communications services provider Mitel Networks Corp. (MITL) continues its aggressive pace of acquisitions, with the $560 million deal for mobile technology company Mavenir Systems Inc. (MVNR). Mavenir shareholders would receive $17.94 in cash or stock.

Shares of the Richardson, Texas, target gained $2.36, or more than 16%, to $16.93 on Monday afternoon. Mitel CEO Rich McBee presented the transaction as a "natural and strategic step" that reflects the increased convergence ...