Mitel Completes Acquisition of Toshiba Unified Communications Systems Business Assets
July 05 2017 - 5:05PM
Mitel® (Nasdaq:MITL) (TSX:MNW), a global leader of enterprise
communications, today announced that it has completed the
acquisition of certain assets, inventory and support obligations
from Toshiba Corporation’s Unified Communications business. The
announcement follows the Memorandum of Understanding signed by the
two companies on May 11, 2017.
Effective immediately, Toshiba customers and partners have a
clear path forward with Mitel, including ongoing access to existing
Toshiba products and services. In addition, to ensure business
continuity, a key group of Toshiba sales, support and R&D
employees will join Mitel and will continue to provide support to
existing Toshiba customers and partners. The transaction also
includes a transition services agreement to provide product and
service continuity.
The transaction reflects Mitel’s strategy to focus on expanding
its position in the UCC market as digital transformation
accelerates demand for cloud-based business communications
solutions and business productivity applications are reshaping
organizations globally.
“In a rapidly changing and opportunity rich technology
landscape, Mitel is helping customers find a seamless path forward
whether in the cloud, on premise or a hybrid of both,” said Rich
McBee, CEO of Mitel. “We are excited to officially welcome Toshiba
customers, partners and employees to the Mitel family.”
Forward Looking Statements Some of the
statements in this communication are forward-looking statements (or
forward-looking information) within the meaning of applicable U.S.
and Canadian securities laws. These include statements using the
words believe, target, outlook, may, will, should, could, estimate,
continue, expect, intend, plan, predict, potential, project and
anticipate, and similar statements which do not describe the
present or provide information about the past. There is no
guarantee that the expected events or expected results will
actually occur. Such statements reflect the current views of
management of Mitel and are subject to a number of risks and
uncertainties. These statements are based on many assumptions and
factors, including general economic and market conditions, industry
conditions, operational and other factors. Any changes in these
assumptions or other factors could cause actual results to differ
materially from current expectations. All forward-looking
statements attributable to Mitel or Toshiba, or persons acting on
their behalf, are expressly qualified in their entirety by the
cautionary statements set forth in this paragraph. Undue reliance
should not be placed on such statements. In addition, material
risks that could cause actual results to differ from
forward-looking statements include: the inherent uncertainty
associated with financial or other projections; the failure to
recognize the anticipated benefits from the transaction; intense
competition; reliance on channel partners for a significant
component of sales; dependence upon a small number of outside
contract manufacturers to manufacture products; and, Mitel's
ability to successfully implement and achieve its business
strategies, including its growth of the company through
acquisitions and the integration of recently acquired businesses
and realization of synergies. Additional risks are described under
the heading “Risk Factors” in Mitel’s Annual Report on Form 10-K
for the year ended December 31, 2016 and in Mitel’s Quarterly
Report on Form 10Q for the quarter ended March 30, 2017 filed with
the U.S. Securities and Exchange Commission and Canadian securities
regulatory authorities on March 1, 2017 and May 3, 2017
respectively. Forward-looking statements speak only as of the date
they are made. Except as required by law, Mitel has no intention or
obligation to update or to publicly announce the results of any
revisions to any of the forward-looking statements to reflect
actual results, future events or developments, changes in
assumptions or changes in other factors affecting the
forward-looking statements.
About Mitel A global market leader in
enterprise communications powering more than two billion
business connections, Mitel (Nasdaq:MITL) (TSX:MNW) helps
businesses and service providers connect, collaborate and provide
innovative services to their customers. Our innovation and
communications experts serve more than 60 million business users in
more than 100 countries. For more information, go
to www.mitel.com and follow us on Twitter @Mitel.
Mitel is the registered trademark of Mitel Networks
Corporation.
All other trademarks are the property of their respective
owners. MITL-F
Mitel Contact Information
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camille.beasley@mitel.com
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Michael McCarthy
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michael.mccarthy@mitel.com
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