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03 Aug 2007
Mitel has been given the green light to pursue its $723m merger with Inter-Tel.
Inter-Tel stockholders today approved the merger plans, which Mitel claims will create a market leader in the SME IP communications space.
Mitel, which earlier this year canned its distribution channel in the UK (CRN, 7 May), expects the merger to close as soon as possible after a litigation hearing before the Delaware Court of Chancery next week.
Don Smith, chief executive of Mitel, said: “We are delighted that Inter-Tel shareholders have voted to approve the merger with Mitel. By bringing together the unique strengths of each company, this transaction will accelerate our growth strategy.
Together, we believe that Mitel and Inter-Tel will possess the intellectual property, technology depth, breadth of portfolio, managed services, partnerships, and people to be a leader in the rapidly changing IP telephony landscape," he added.
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