Mitel Networks (TSX:MNW) has completed a previously announced $392-million merger with Aastra Technologies, the companies announced late Friday.
The deal will create a company that Mitel says will have US$1.1 billion of combined revenue and 60 million customers worldwide.
The higher revenues “creates the financial scale and operational leverage to drive shareholder value and profitable growth in an opportunity-rich consolidating market,” said Richard McBee, president and CEO of Mitel, in a press release.
OBJ360 (Sponsored)
Experience Canadian Culinary Excellence!
Every February, Ottawa turns into Canada’s culinary capital for the weekend. Chefs from across the country who have won their regional championships will converge on Ottawa Jan. 31 to Feb.
SnowBall: A Cool Winter’s Eve to Keep Ottawa Kids Warm This Winter
As Ottawa’s winter chill sets in, the warmth of community spirit takes centre stage at SnowBall: A Cool Winter’s Eve, The Snowsuit Fund’s sought-after gala happening at the Ottawa Art
“We now have double the talent, tools and range of solutions to aggressively compete for a greater share of our market.”
On Friday the company also announced that it had completed a $405 million credit facility. It will consist of a $355 million term loan that matures in 2020 and an undrawn $50 million revolving credit facility that matures in 2019.
The new credit facility was used in part to finance the Aastra deal, the company press release said.
