RingCentral to become exclusive UCaaS partner
to Mitel for its customer base of over 35 million users
RingCentral acquires differentiated CloudLink
technology to enable a unique transition path from on-premises PBX
to RingCentral’s Message Video Phone (MVP) cloud platform
Mitel investor group led by affiliates of
Searchlight Capital Partners, L.P. (“Searchlight”) to invest $200
million in RingCentral
RingCentral, Inc. (NYSE: RNG), a leading provider of global
enterprise cloud communications, video meetings, collaboration, and
contact center solutions, and Mitel, a global leader in business
communications, announced a strategic partnership to provide
Mitel’s global customer base with a seamless migration path to
RingCentral’s Message Video Phone™ (MVP®) cloud communications
platform.
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Partnership highlights:
- RingCentral becomes the exclusive UCaaS partner for Mitel
- Integration of RingCentral MVP with Mitel’s unique CloudLink
technology will provide Mitel’s user base of over 35 million an
easy migration path to RingCentral’s industry leading MVP cloud
communications platform
- Mitel continues to focus on delivering leading UC solutions and
innovation for its global customers
As part of this agreement, RingCentral becomes Mitel’s exclusive
UCaaS partner, providing their customers with a next generation,
mobile-first, cloud communications platform with high reliability
and security, rich functionality, and broad enterprise app
integrations. Mitel will continue to support customers on its
MiCloud Connect platform and, working with RingCentral, provide a
seamless path to RingCentral’s best-in-class cloud-based MVP for
all its customers in a manner and pace that best fits each
customer’s needs.
“We are excited to bring the market-leading UCaaS solution to
our customers and channel partners with RingCentral as our
exclusive UCaaS partner,” said Tarun Loomba, newly appointed
president and chief executive officer at Mitel. “The unique depth
of this partnership furthers our strategy of delivering world-class
communications to our customers and providing them a clear and
flexible path for the future.”
CloudLink, an innovative cloud platform enabling customers to
integrate their on-premises infrastructure with modern cloud
applications, will enable Mitel customers to leverage their
existing on-premises PBX capabilities via the RingCentral
application. This use case provides a seamless, highly
differentiated transition path to full cloud adoption.
“We are bringing together the best of Mitel and RingCentral to
give customers the right communications and collaboration solutions
for their needs,” said Vlad Shmunis, RingCentral’s founder,
chairman and chief executive officer. “Given our maniacal
customer-centric focus, we’re delighted to now be able to offer
customers a flexible and differentiated digital transformation
path.”
Financial Terms:
RingCentral will pay Mitel $650 million to acquire intellectual
property rights and patents covering network and call management,
security, and infrastructure. Demonstrating its commitment and
excitement about the partnership, Mitel’s existing investor group
led by affiliates of Searchlight will invest $200 million in equity
in RingCentral as part of the transaction.
Wilson Sonsini Goodrich & Rosati, Professional Corporation
is serving as legal advisor to RingCentral and Wachtell, Lipton,
Rosen & Katz is serving as legal advisor to Searchlight and MLN
TopCo Limited, the parent of Mitel.
Product and go-to-market
Product will continue to be branded RingCentral MVP,
accelerating availability to Mitel’s entire customer base through
RingCentral’s and Mitel’s combined channels. Additional product
enhancements leveraging joint technologies beginning with Mitel
phone and device support for RingCentral MVP is planned for the
first half of 2022.
Investor Presentation Details:
An investor presentation providing additional information and
analysis can be found at http://ir.ringcentral.com/.
Forward Looking Statements
This press release includes forward-looking statements within
the meaning of the federal securities laws. These statements relate
to, among other things, the anticipated opportunities and benefits
of the strategic partnership between RingCentral and Mitel. These
forward-looking statements are based on estimates and assumptions
that RingCentral and Mitel believe are reasonable, but any of these
estimates and assumptions could prove to be inaccurate and the
forward-looking statements based on these assumptions could be
incorrect. Actual results and trends in the future may differ
materially from those suggested or implied by the forward-looking
statements depending on a variety of factors including those that
are described in greater detail in RingCentral’s Quarterly Report
on Form 10-Q for the quarter ended June 30, 2021 and in other
periodic reports filed by RingCentral with the Securities and
Exchange Commission from time to time. All future written and oral
forward-looking statements attributable to RingCentral or Mitel or
persons acting on their behalf are expressly qualified in their
entirety by the previous statements. RingCentral and Mitel
undertake no obligation to update any forward-looking statements
that may be made to reflect events or circumstances that occur, or
that they become aware of, after the date of this press
release.
About RingCentral
RingCentral, Inc. (NYSE: RNG) is a leading provider of business
cloud communications and contact center solutions based on its
powerful Message Video Phone™ (MVP®) global platform. More
flexible and cost effective than legacy on-premises PBX and video
conferencing systems that it replaces, RingCentral empowers modern
mobile and distributed workforces to communicate, collaborate, and
connect via any mode, any device, and any location. RingCentral
offers three key products in its portfolio including RingCentral
MVP™, a Unified Communications as a Service (UCaaS) platform
including team messaging, video meetings, and cloud phone system;
RingCentral Video®, the company’s video meetings solution with
team messaging that enables Smart Video Meetings™; and RingCentral
cloud Contact Center solutions. RingCentral’s open platform
integrates with leading third-party business applications and
enables customers to easily customize business workflows.
RingCentral is headquartered in Belmont, California, and has
offices around the world.
About Mitel
A global market leader in business communications powering more
than two billion business connections, Mitel helps businesses and
service providers connect, collaborate and provide innovative
services to their customers. Our innovation and communications
experts serve business users in more than 100 countries. For more
information, go to www.mitel.com and follow us on LinkedIn and
Twitter @Mitel.
For media inquiries, contact pr@mitel.com
© 2021 RingCentral, Inc. All rights reserved. RingCentral,
Message Video Phone, MVP, RingCentral MVP, RingCentral Video,
RingCentral Contact Center, Smart Video Meetings, and the
RingCentral logo are trademarks of RingCentral, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20211109006480/en/
RingCentral Media Contact: Jyotsna Grover
Jyotsna.grover@ringcentral.com
RingCentral Investor Relations Contact: Ryan Goodman
Ryan.goodman@ringcentral.com
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