Ottawa-based telecom firm Mitel (TSX:MNW) (NASDAQ:MITL) made waves last week with its $430-million purchase of rival ShoreTel.
The deal will propel Mitel into the No. 2 position in the unified communications-as-a-service market with annual revenues of $1.3 billion.
With its share price continuing to rise in the aftermath of the acquisition, Steve Spooner – Mitel’s chief financial officer – dropped by Techopia Live to explain the thinking behind the purchase, Mitel’s M&A strategy and why businesses are losing interest in managing their phone and communication systems in-house.
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