OTTAWA, ON, and TEMPE, AZ, Aug. 16 /CNW Telbec/ - Mitel Networks
Corporation and Inter-Tel (Delaware), Incorporated (NASDAQ: INTL) today
announced the completion of their merger. As a result of the merger, Inter-Tel
is now a wholly-owned subsidiary of Mitel(R) and Inter-Tel stockholders will
receive $25.60 in cash for each Inter-Tel share they held prior to the
"We are delighted to complete our merger with Inter-Tel," said Don Smith,
CEO of Mitel. "Inter-Tel's people, products, managed services and partnerships
complement those at Mitel and will enable us to accelerate our growth strategy
by extending our small/medium business (SMB) leadership position and
continuing our expansion into the large business sector."
The company will now be #1 in the North American SMB market(1), #2 in the
Western European IP PBX market(2), the overall leader in the U.K.
communications market(3) and continues to grow its operations globally. With
three trusted brands (Mitel, Inter-Tel and Lake), the company offers customers
a broad choice of solutions from the very small to the very large, from IP
enabled to pure IP unified communications, from standard solutions to
tailored, from single site to multi-site and from outright capital purchase
options through sophisticated managed services.
"We are extremely pleased to complete this transaction today, which we
believe is in the best interests of Inter-Tel stockholders," said
Norman Stout, CEO of Inter-Tel. "Our new company will be a formidable industry
player in the U.S. and across the globe, and as part of the Mitel team, we
look forward to continuing to provide exceptional products and services to our
mutually expanded customer base."
Mitel will maintain Inter-Tel's Arizona headquarters, which will become
the center of operations for the combined U.S. business and serve as an
important center of R&D excellence.
"We have common entrepreneurial roots, a shared vision and the breadth of
solutions and technology to address the diverse needs of the rapidly changing
communications market." Don Smith concluded. "As we come together we will
deliver innovative solutions and managed services for our existing customers
and channel partners, so that no one is stranded or forced to consider an
alternate vendor. We intend to be the logical choice for both existing and new
As a result of the acquisition, Inter-Tel common stock will no longer be
listed on the NASDAQ Stock Market as of August 16, 2007.
Mitel, a leading provider of unifying IP communications solutions and
applications for business customers, is headquartered in Ottawa, Canada, with
offices, partners and resellers worldwide. For more information, please visit
Mitel and logo are registered trademarks of Mitel Networks Corporation.
Inter-Tel and the Inter-Tel logo are trademarks of Mitel Networks
(1) Infotech: InfoTrack for Unified Communications - April 2007
(2) MZA: Corded PBX/IP PBX - Quarterly Reporting - Q1 2007 - Europe
(3) MZA: Corded PBX/IP PBX - Quarterly Reporting - Q1 2007 - Europe
Except for historical information provided herein, this press release may
contain information and statements of a forward-looking nature concerning the
future performance of the Company. These statements are based on suppositions
and uncertainties as well as on management's best possible evaluation of
future events. Such factors may include, without excluding other
considerations, fluctuations in quarterly results, evolution in customer
demand for the Company's products and services, the impact of price pressures
exerted by competitors, and general market trends or economic changes. As a
result, readers are advised that actual results may differ from expected
For further information:
For further information: Paul Goyette, (613) 592-2122, x2188,
email@example.com (media, analysts and investors)